The migration of 475,500 workers from Bangladesh to Malaysia over a 22-month period has set a new record, as the government looks to expand the export of skilled labour to the Southeast Asian country.
In the last three years, $3.5 billion in remittances have been sent back to Bangladesh from Malaysia, with annual remittances, from January to December, reaching $1.5 billion.
This rising trend in remittance flow from expatriates in Malaysia is expected to continue, as demand for several hundred thousand more workers is already in the pipeline, according to sources familiar with the matter.
Dhaka now hopes that low-cost migration will further enhance the contribution of foreign currency to the country’s economy.
Industry experts believe formalizing a memorandum of understanding (MOU) between the two countries could further benefit both nations. If an agreement is signed, the structured recruitment of workers would strengthen economic ties and support both labour markets.
Rabiul Islam, the owner of a manpower agency in Puran Paltan, said Bangladeshi workers in Malaysia had expressed satisfaction with their working conditions.
“The Malaysian government has ensured the protection of their rights and welfare following their contracts, creating a positive environment for migrant workers,” he added.
Malaysia has recently risen from eighth to fourth place among the top remittance-sending countries to Bangladesh.
According to Bangladesh Bank, remittances from Malaysia alone amounted to $251.9 million in August.
Currently, approximately 2.5 million people in Bangladesh are benefiting directly from the migration of a quarter of a million workers and their families to Malaysia in this phase.
The migration process is being facilitated by 101 agencies approved by the Malaysian government, along with over 1,100 allied recruiting agencies authorized by employers through power of attorney.
Ali Haider Chowdhury, former general manager of the Bangladesh Association of International Recruiting Agencies, mentioned the high demand for foreign workers in Malaysia’s plantation and agriculture sectors.
He said that with effective negotiations, there was a significant opportunity to deploy Bangladeshi workers to meet Malaysia’s labour needs in these vital industries.
