BFM Podcast

From Street Vendors to Gig Workers: The State of Malaysia's Informal Economy

Tan KW
Publish date: Wed, 28 Feb 2024, 04:31 PM
From Street Vendors to Gig Workers: The State of Malaysia’s Informal Economy

28-Feb-24 12:00

Dr Yashodhan Ghor-pa-de, Senior Economist, Social Protection & Jobs, World Bank

The informal employment landscape in Malaysia represents a significant and dynamic component of the labour market, reflecting both the economy's adaptability and the challenges facing its workforce.

These workers often face precarious conditions, including low wages, limited access to benefits, and vulnerability to economic shocks, which calls for policymakers to strike a balance between promoting formalisation and ensuring the well-being of these workers.

The World Bank report on "Informal Employment in Malaysia", indicates that approximately 21% of the workforce is engaged in informal work. The report identifies key challenges and policy goals related to retirement savings, protection against health and injury risks, and the need for social insurance schemes to be more flexible and inclusive, as well as emerging trends.

In this episode, Enterprise explores this World Bank report on its findings and recommendations with Dr Yashodhan Ghor-pa-de, Senior Economist on Social Protection & Jobs at the World Bank.

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