“I give it a 70 per cent chance that Malaysia will be exporting maids in 20 years. I wouldn’t be surprised if that happens unless we get our act together,”
The issues plaguing Malaysia includes its “problematic” education system and distressingly low ability to retain talent.
“Whoever manages to excel in our education system will be courted by Singapore,”
If Malaysia falls further behind our neighbors in the next twenty years, it will be a case of history repeating itself.
Malaysia in the 1970’s was once economically on par with Korea.
“Electronics will be dominated by Thailand and Philippines, plantations by Indonesia, financial services by Singapore and our oil could be depleted in 20 years,”
Head of research at Corston-Smith Asset Management, Lim Tze Cheng
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Malaysia has only about 38,000 expatriates as compared with seventy to eighty thousand in the 1990s even while some 785,000 Malaysians are working abroad, two out of three of which are professionals.
“Our ability to attract expatriates is quite challenged,”
The government needs to put in place the right policies and structures to retain local talent.
“Otherwise, we become a training ground for others,”
Malaysian Employers Federation (MEF)executive director Haji Shamsuddin Bardan
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