KUALA LUMPUR, Nov 10 — There are 785,000 Malaysians who work overseas, and an estimated two out of every three are likely to be professionals, said the Malaysian Employers Federation (MEF).
A government policy was launched in 2000 with the aim of wooing them back, with offers of tax and duties exemptions, targeting doctors, engineers and IT executives. It has seen only 770 applicants approved since then, or an average of 85 each year.
The MEF said that of the Malaysian professionals who work abroad, 44 per cent are in Singapore and 28 per cent in other parts of Asia. The rest work in other parts of the world.
The MEF is an umbrella group for 4,000 private-sector employers. Its council members include Telekom Malaysia, multi-industry giant Sime Darby and Malayan Commercial Banks Association.
In the recent announcement for the 2010 Budget, Prime Minister Datuk Seri Najib Razak said new incentives will be offered to attract foreign talent. One of these makes it easier for skilled expatriates to apply for permanent resident status.
Visas will also be granted automatically to working and dependent expatriate family members within 14 days.
Critics wonder if it will succeed as things often boil down to salaries and expectations. But Malaysia has an edge over developed countries — the cost of living is lower. — The Straits Times
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And after living in a developed society for 4 years and depleting their families savings, it doesn't make much sense to come back to Malaysia to work for some small chinaman company and be poor.
Malaysian universities are too few and too expensive to produce any real number of engineers in acceptable standard. Have the government ever considered giving grants to private Universities for R&D and achieving international recognition.
And too many prefer to work in Singapore instead ?
And pay is only an issue because our government insists on a low cost economy. The government borrows a lot of money because of some misguided ideas about economics. We have a huge trade surplus, it is a hint of what is wrong.
If you had a million in the bank earning 3% interest a year, what would you do ??