The Federation of Malaysian Manufacturers (FMM) is most concerned about the repercussions and impact on the industry and economy following the March 1, 2024 announcement by the Home Minister of changes to the foreign worker policy which has caught the industry by surprise.
The sudden and hasty decision to cut short the quota validity period for those still having active quota balance with just a one month’s notice and to cancel all active quotas after March 31, 2024 as well as stop the entry of any workers under the active quota balance into the formal sector from June 1, 2024 would be most damaging as the sector has shown signs of business recovery in the second half of 2023 and is anticipated to gain momentum in the first half of 2024.
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