AUSTRALIAN BUSINESSES IN MALAYSIA GIVE THE THUMBS UP TO 3 AFREAS IN ANWAR'S BUDGET 2024 - VISA LIBERALISATION PLAN - EASING OF MM2H CONDITIONS - AND NEW HIGH-TECH INDUSTRY ZONES IN PERAK TO BOOST INVESTMENTS

KUALA LUMPUR (Politics Now!) - The Malaysia Australia Business Council (MABC) receives the Unity Government’s 2024 budget with optimism and congratulates Prime Minister Anwar Ibrahim, the Ministry of Finance, and all associated Ministries and organizations on their effort. 

We acknowledge the investor-friendly policies revealed by the Unity Government in their statement and welcome these initiatives for their potential to strengthen the business relationship between Malaysia and Australia.  

 

The MABC welcomes the following initiatives:

Visa Liberalisation Plan: MABC welcomes the announcement that approval for employment passes for strategic investors will be liberalised. Encouraging investors to come to Malaysia begins with easing the process of entering the nation. MABC will ensure that its members and interested parties are given the appropriate advice and support to facilitate a soft-landing entry into Malaysia’s business sectors.

Encouraging Foreign Investment: MABC anticipates the establishment of a new high-tech industry area in Kerian, Perak Utara, and the continued development of Malaysia’s E&E sector. With MABC members and four Australian universities with campus presence in Malaysia, we are committed to further cooperation with relevant industries in vocational education and training, online tertiary education delivery and quality assurance, and qualifications recognition in line with the prioritised sectors of the New Industrial Master Plan 2030 (NIMP 2030).

MM2H: We also welcome the easing of conditions for the MM2H scheme, which will help bring more Australians to Malaysia and entrench them within the domestic economy to boost the nation’s property market, tourism sector and aged care and healthcare industries. MABC will promote Malaysia as an ideal second home to members and Australian citizens under the MM2H scheme.

 

MABC also applauds MITI and MIDA’s commitment to bring about further ease of doing business for foreign investors. We look to the future with enthusiasm as the business relationship between Malaysia and Australia continues to be strengthened. We anticipate further investor-friendly policies moving forward and pledge to blend the commitments of the Australian government’s ‘Invested: Australia’s Southeast Asia Economic Strategy to 2040’ with those made by the Unity Government in their 2024 budget.

 

Australia remains an eager and trustworthy business partner for Malaysian companies, and the Malaysia Australia Business Council remains an essential facilitator as businesses deepen bilateral ties between both nations.-  Malaysia Australia Business Council 2024 post-Budget Statement

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