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The 2024 Budget has targeted that the system be implemented before the end of 2024.
Malaysia's National Economic Action Council (MTEN) has examined two presentation papers — namely Empowerment of small and medium enterprises (SMEs) in Malaysia and Implementation of the Multi-level Levy Mechanism (MTLM) for Foreign Workers.
In an effort to increase the scale and competitiveness of SMEs, the meeting agreed for the Government to take intervention actions on the structural issues discussed.
On the implementation of the MTLM, the 2024 Budget has targeted that it be implemented before the end of 2024. The concept was first introduced in the 11th RM as an improvement mechanism in managing and controlling low-skilled foreign workers to ensure that the percentage of foreign workers does not exceed 15% of the total workforce.
At the same time, the meeting detailed the characteristics and views of the economic sectors involved. According to the Prime Minister's Department of Malaysia, the relevant Ministries are to also engage with industry representatives and identify policy improvements related to the management of foreign workers and programs to increase the participation of the local workforce.
MTEN is an economic advisory council to the Government, which evaluates and offers advice on policy decisions such as proposals to strengthen the country's fiscal position.
Lead image / Prime Minister's Department of Malaysia
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