Revive economy by strengthening services sector

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From Moaz NairMalaysia’s services sector employed over 63% of the total workforce in 2019 and accounted for over half of the GDP, making it a major contributor to the country’s economic growth, productivity and earnings.It generated more employment than any other sector for the past 10 years before the economic slowdown. This has now been thwarted due to the Covid-19 pandemic, political instability and lack of foreign investors. In some developing countries, the primary sector continues to be the largest employer as opposed to the services sector. More than half of their workers work in the primary sector, mainly in agriculture, producing only a quarter of the GDP.However, the services sector, if enhanced, could make an important contribution to the GDP, providing jobs, inputs and public services for the economy. By honing its human capital, trade in services can improve econom…