Women play an integral part in the economy

By Zaidi Isham Ismail
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Women in Malaysia have come a long way ever since the country's independence 63 years ago.

Gone are the days when their roles were primarily caregivers and confined as stay at home moms.

Today, women have become an integral part of the economy and contribute a significant role in the country's workforce.

According to the Statistics Department, women comprise 55.2 % of the workforce in August this year.

Women now compete with their male peers in the labour force except for heavy labour.

But there is a need for more women participation in the workforce.

The role of women is even more pertinent in this day and age at the height of COVID-19.

A household can endure the unfortunate event when a husband might lose his job leaving the wife to fend for the household.

This is when the wife rises to the occasion to become the main breadwinner of the household until the spouse can get back on his feet again.

Under Budget 2021, the government had allocated RM95 million for women to delve in entrepreneurship organised by MARA, Tekun and Agrobank.

The government had also allocated RM50 million under the Islamic Economic Development Foundation (YaPEIM) to support Islamic pawnbroking or Ar-Rahnu Biznita.

In the private sector or even government agencies, there is a guideline that up to 30% of the board of directors must be filled up by women.

So far, this target is on track and more and more women are filling the top posts in public service spanning from director generals to ministers.

However, there are challenges ahead which could be detrimental to not just women but the nation. Malaysia is an aging nation.

Up to 70% of Malaysians are below the age of 50 which means that the country's elderly population is high while the younger population, both men and women are not filling up the vacant jobs fast enough.

The country's male population is also facing challenging times, of which more and more males are getting involved in mat rempits, drugs and incarcerated in prisons at such a young age.

Local universities are also dominated by female undergraduates who are studying in a multitude of courses.

However, it is encouraging to see more and more women entrepreneurs involved in the gig economy.

We often see women businesswomen peddling their wares from food to fashion and cosmetics.

This is a potent catalyst for the economy which is focusing on digital commerce due to COVID-19.

Thus more training in marketing should be given to these women to help the country's engine of growth.

Times have changed and women no longer play second fiddle to men.

Women no longer sit at home and focus entirely on raising children.

With rising cases of violence against women, the weaker gender may be weak physically but women have finally stood at par with men.

Entrepreneur Sharifah Syed Halim said "Women are more empowered now. If a misfortune happens in a family, women can stand on their own two feet. Gone are the days when women depend on the significant other."

Universiti Malaysia Terengganu Dr Suriyani Mohamad in a letter to the New Straits Times said : "Happy families are led by happy women."  -  DagangNews.com

The writer is former NST Business assistant editor