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Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
Malaysia Truly Asia still Print E-mail
Monday, 05 October 2009 00:48
  • Gov't bullish about Malaysian tourism
  • Tourism figures for 2009 expected to be higher than 2008
  • Also making efforts to attract retirees and foreign investment

Malaysia - Malaysia's marketability factor as a tourist destination remains high according to comments made by YAB Tan Sri Dato Haji Muhyiddin Bin Mohd. Yassin, Deputy Prime Minister and Minister of Education Malaysia.

Tourism was singled out by Mohd. Yassin as a sector showing great potential for growth despite the current global economic climate.

The comments came at a 'Meeting of the Minds' lunchtime session the Deputy Prime Minister and Minister of Education Malaysia had with Steve Forbes at today's Forbes Global CEO Conference.

Mohd. Yassin said Malaysia's diversity of people, culture, arts and crafts, and low costs of living were factors why he expected tourism numbers to be better this year than in 2008.

Malaysia's number of tourist arrivals last year reached 22 million compared to 20.9 million in 2007 while receipts rose from RM46,070 million to RM49,561 million in 2008.

Mohd. Yassin also indicated the government was keen on strengthening its "Malaysia My Second Home Programme" which encourages foreigners to retire in Malaysia.

Around 13,000 people have taken up the offer so far which allows foreigners, who meet certain criteria, to stay in Malaysia for as long as possible on a multiple-entry social visit pass. The Social Visit Pass is initially for a period of ten years, and is renewable.

Tax incentives on areas such as property as well as vehicles are also thrown in to sweeten the deal.

At the end of the conference, Steve Forbes commented that he felt Malaysia was rolling out the welcome mat to foreign investment.

In April this year, the Tourism Ministry rolled out the Malaysia: Truly Business website with the ISC Group in an attempt to attract foreign investors.

By: Marcus Chhan, Malaysia
Published: Sep 29, 2009

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