Following all-round criticism on the handling of the Malaysia My Second Home (MM2H) programme by the federal government, Penang State Executive Councillor for Tourism and Creative Economy, YB Yeoh Soon Hin calls for the easing of overly strict conditions.
Yeoh urged the Ministry of Home Affairs to urgently review and revise the new MM2H conditions so that the MM2H programme can keep pace with the changing needs of our economy and make a meaningful contribution in the revival of our country’s economy after the pandemic.
“As one of the top tourism destinations in Southeast Asia, Penang is known for its vibrant multicultural scene, savory street food and strategic geographical location, which have become the captivations for many expatriates.
“The expatriates play a vital role in bringing a multiplier effect for the economic development of Penang and Malaysia as a whole.
“Thus, it is beneficial for the country if conditions for new applicants of MM2H are fair, reasonable, and effective to encourage potential residents or investors from abroad to stay with us,” said Yeoh.
It was reported that according to the MM2H Consultant Association, stricter conditions have caused a 90% drop in the number of MM2H applicants after the conditions were introduced back in 2021, and these unnecessary barriers have hindered attracting long-term foreign residents ever since.
“If such conditions persist, I believe many expatriates will no longer choose Malaysia and will seek for our neighboring countries which are easier for them to meet the eligibility requirements to settle there,” said Yeoh in a press statement.