Malaysia To Introduce Multiple Entry Visas For Investors

15 Jun 2013

In a bid to attract top expatriate talent, Malaysia will introduce multiple entry visas for up to five years for qualified business investors and fund managers to visit the country, Prime Minister Najib Razak has said.

Najib made the announcement in his keynote address at the ‘Invest Malaysia 2013’ here.

He said the move was aimed at attracting more expatriate talents to choose the country as a preferred venue for investments, thus helping to stimulate its economic growth.

The 9th edition of ‘Invest Malaysia’ was aimed at showcasing leading Malaysian companies and the diversity of the local capital market.

Najib said the multiple entry visa would make it easier for investors and fund managers to visit Malaysia.

The latest move was among the initiatives that had been launched for that purpose.

Najib, who is also finance minister, had said in December last year the country would begin reaching out directly to expatriate corporate leaders by offering 10-year residence passes.

“Out of the 1,600 passes which have been approved so far, 130 resulted from proactive engagement by the government,” he had said.

In April, the Immigration Department launched an expatriate services division to provide a focal point for the immigration needs of top global talent.

Najib, referring to the Economic Transformation Programme, said he had a definite vision of the kind of economy it intended to create.

This, he said, included in medium-term, affirmative action programmes should be made more market-friendly and meritocratic.

He said efforts to turn Malaysia into a regional energy hub must continue and should see further growth as the industry, which contributed more than 40 per cent to the national income, was essential to safeguard the nation’s medium-and long-term position.

Source: http://www.thehindubusinessline.com/news/international/malaysia-to-introduce-multiple-entry-visas-for-investors/article4814274.ece