Malaysia to continue focusing on economy, social development

15:41, June 10, 2010      

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The 10th Malaysia Plan unveiled by Malaysian Prime Minister Najib Razak here on Thursday has drawn much attention from members of the public, each hoping for feasible and beneficial policies to be implemented for the good of the nation.

The plan is rolled out at a time when countries around the globe, including Malaysia, are recovering from the global financial crisis that swept across the world in the last two years.

The significance of the plan is further heightened as it is also the second last five-year Malaysia Plan to prepare Malaysia for attaining the Vision 2020, where Malaysia is expected to become a high-income and developed nation.

Given the current economic climate, it will not be surprising that the Malaysian government places much emphasis on creating a conducive business and investment environment to boost its competency to lure foreign direct investments.

The key elements to unlock Malaysia's boundless potential include ample supply of skilled and knowledgeable workforce, as well as infrastructure that can provide impetus for business development.

The Malaysian government therefore proposed that a Talent Corporation be established under Malaysian Prime Minister's Department in 2011 to source global top talent, including among Malaysian diaspora.

Other measures aimed at wooing talent include simplifying hiring of foreign talent, exemption for foreign talent to bring in foreign domestic help, no time limit on employment visa of skilled foreign talent earning more than 8,000 ringgit (2,454 U.S. dollars) a month were also proposed.

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