TalentCorp was established to attract talented expats, persuade overseas Malaysians to return and better prepare Malaysian graduates to joining the work force. The Government Transformation programme organically anticipated a big influx of skilled foreigners to provide the required talent to handle the projected acceleration in economic growth.
It seems that the anticipated growth in the expat community has not been realised, although it’s hard to know if this is because the demand was overestimated or other factors were at play. We still hear local businesses complain about a lack of management talent, but it seems no real effort is being made to bring more expats into the country.
The Residence Pass-Talent was well received by the local expat community, but is only available to those already living here. We were advised the visa would be extended to people outside the country wishing to relocate to Malaysia, but that has never happened. It seems they are shifting their focus away from attracting expats and focusing more on Malaysians. Surprisingly, they are now being less forthcoming about their plans.
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