​PETALING JAYA: The revised rates for expatriate employment pass (EP), professional visit pass (PVP) and dependent pass (DP) recently announced by the Talent Corp were untimely as the drastic cost increases would hamper efforts to attract much-needed investments at the present critical juncture to revive the national economy.

MEF President Dato’ Dr Syed Hussain Syed Husman J.P. expressed serious concerns over the Talent Corp’s decision to increase the fees for such passes effective on Nov 15, 2021 as this would be a disincentive for existing investors and drive away potential investors.

“We are at a very critical stage to ensure that Malaysia’s economic recovery efforts would be smooth and be able to attract more investments, and also maintain the existing investors,” said Dato’ Dr Syed Hussain.

“The revised rates for these expatriate passes would pose difficulties and complications for application to recruit expatriates and for renewal of the related passes which may cause disruptions in business continuity.”

Based on the latest information provided by the Talent Corp, it was understood that the cost for EP increased 167% from RM480 to RM800 per person; the fee for DP increased 540% from RM83 to RM450, while the fee for PVP increased 800% from RM100 to RM800. (See attached APPENDIX A)

“We thank the government for allowing MEF to voice employers’ concerns at the various platforms for policy engagement,” said Dato’ Dr Syed Hussain.

“As the engine of Malaysia’s economic growth, industry requires all the support and easements to ensure that our country is on track for the much needed economic recovery.

“We should provide more attractive terms to attract investments rather than increase their costs though this may not seem to be significant in terms of the investment.

“The increased rates sent a wrong message because we should address the high number of unemployed graduates today by facilitating the inflow of capital and investments.

“We should be more prudent in our strategies as we look forward to see Malaysia re-emerges as a vibrant place for investments, and we hope that the policies would facilitate and nurture the creation of such environment.”

For further information, contact the MEF Secretariat at 03-7955-7778 or fax 03-7955-9008 or email mef-hq@mef.org.my.

6 OCTOBER 2021