KUALA LUMPUR, June 13 (Bernama) -- Malaysia will introduce the Multiple
Entry Visa for up to five years to qualified foreign business investors
and fund managers to visit the country, said Prime Minister Datuk Seri
Najib Tun Razak.
Making the announcement in his keynote address at the Invest Malaysia
2013 here today, Najib 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.
"We want to put Malaysia at the heart of the 21st century global
economy; a country at the centre of the world's strongest growth
markets, fluent in finance and sustainable development, and bridging the
gap between East and West," he said.
The latest move was among the initiatives that had been launched for that purpose.
Najib, who is also Finance Minister, said in December last year, the
government started to reach 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 said.
Last April, an Expatriate Services Division was also launched by the
Immigration Department to provide a focal point for the immigration
needs of top global talents.
Najib said the government was also actively modernising current labour
legislation focusing on increasing productivity and ensuring that there
was renewed focus on skills development.
On another matter, the prime minister remarked that the KL Composite
Index which saw a surge of more than 100 points, closing out the biggest
one-day gain in its history, a day after Barisan Nasional retained
power in the last 13th general election, indicated the market preference
on the government's economic agenda over the opposition's.
"It was tempting to see the rally as an endorsement of the path we have chosen for Malaysia.
"But it was also an expression of relief. After a year of growing uncertainties, political risks have eased," he said.
Going forward, he said, the next five years would present the
government with opportunities to set Malaysia's path for decades to
come.
"I understand and acknowledge the message from voters; that as we
proceed along this path, we must be transparent and accountable, and
that the benefits of economic transformation must flow to all
Malaysians.
"I will work to ensure our national success leaves no one behind," he added.
(Source: Bernama)