Malaysian government introduces initiatives to facilitate foreign investment, including fast-tracking expat permits for firms with compliant expat employment.
The Malaysian government is taking significant steps to make it easier for foreign investors to do business there. One notable move in this direction is the fast-tracking of expatriate permit applications. Economy Minister Rafizi Ramli recently announced that the application process would be shortened to just five working days, starting in June, down from a previous duration of 87 days.
“The decision to shorten the expatriate application period is aimed at simplifying the affairs of investors who want to enter Malaysia,” said Minister Rafizi Ramli after chairing the Special Task Force to Facilitate Business (Pemudah) meeting. He added that companies with a good track record in terms of expatriate employment and compliance with the law are eligible for the shortened application process.
The government aims to increase foreign investment and enhance the country’s economy. The move to fast-track the expatriate permit application process is expected to assist this effort. Additionally, Economy Minister Rafizi Ramli announced that Pemudah has agreed that local authorities demonstrating efficiency in processing permit applications should receive proper consideration when making decisions regarding development allocations.
Economy Minister Rafizi Ramli has announced that the permit application system will be upgraded and the application process streamlined through data integration under a unified system. The new system will reduce the previous four stages of the application process, significantly simplifying the procedure. This streamlined process is expected to pave the way for the government’s ambitious efforts to attract more foreign investment in the country.
The Academy in Industry program will be introduced in June, targeting 100,000 workers in 10,000 companies to improve their skills to meet the industry’s needs. The pilot project will involve ten large companies. According to Rafizi Ramli, these companies will be allowed to develop their own training modules and programs.
These measures signal Malaysia’s commitment to making its economy more competitive, attractive, and business-friendly.
External Links:
- MNCs with good track record to get fast-track visas, work permits
- Malaysia to fast track expat visa applications
- Expatriate permit application process shortened to 5 days from June
- Processing of expats permit application shortened to five days starting June
- Expatriate permit application process shortened to 5 days from June
- Expatriate Permit Application Process Shortened To Five Days From June
- Expatriate permit application process shortened to five days from June