Talentcorp, the body which has been tasked to address Malaysia's burgeoning brain drain and talent shortage, has managed to convince 450 Malaysians to return to work locally.

NONE According to the Performance Management and Delivery Unit (Pemandu) chief Idris Jala, this is through the returning expert programme.

“More than 300 applicants have also applied for the resident pass (for expatriates),” he said yesterday.

Idris, who addressed an audience of about 200 in Bukit Kiara, was detailing the successes of the Economic Transformation Programme which was launched on Oct 25, 2011.

The figures show that Talentcorp, which has been operation since Jan 1 under Johan Merican, is on track to either meet or surpass the performance of previous brain-gain programmes.

One such programme by the Technology and Innovation Ministry to attract researchers and scientists launched in 1995 had in June 2009 only attracted 1,286 Malaysian and foreign experts.

Among the incentives offered by Talentcorp are:

  • A flat rate income tax of 15 percent for the first five years of employment
  • Tax exemption for personal effects brought into Malaysia
  • Tax-free on two completely knocked-down (CKD) vehicles
Foreign spouses and children of those who opt for Talentcorp's programme are also eligible for permanent residency within six months of submission of application to the Immigration Department.

Don't talk about the doom and gloom

Meanwhile, Idris, said that the economic crisis in Europe could spell an opportunity for Malaysia as investors who pull their money out of Europe, may decide to invest in Malaysia.

NONE “We have to make sure... that we speak good things about our country so people would invest. If we focus on the doom and gloom about our country, then they won't invest here. It's important to look at the sun,” he said.

He added that the crisis also gives Malaysia an opportunity to come on top of the curve as long as we continue increasing the competitiveness of our industries.