Malaysia to issue 5-year multiple entry visas to foreign investors

Malaysia will issue five-year multiple entry visas to qualified foreign business investors and fund managers as part of efforts to attract more talents and investors to spur the country's economy, Prime Minister Tun Razak announced here Thursday.

Announcing the measures at the Invest Malaysia 2013 conference here, Najib said the move would make it easier for investors and fund managers to visit Malaysia as they would enjoy entry facilities similar to long term investors and professional expatriates.

Najib said Malaysia must better manage talent and attract and retain skilled workers to ensure continued and sustainable economic growth in Malaysia.

In December last year, the government reached out directly to expatriate corporate leaders by offering 10-year residence passes.

Out of 1,600 passes which have been approved so far, 130 resulted from proactive measures by the government, the Prime Minister said.