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Attempting to address what some critics see as a sharp decrease in skilled professionals, the Malaysian Prime Minister’s Department is spearheading the creation of the Talent Corporation. This new government entity will begin operations in January 2011. Over the course of the next five to ten years, the Talent Corporation aims to attract both foreigners and returnees to work in Malaysia.

One of the Talent Corporation’s largest tasks will be to finalize the list of which incentives can and will be offered. In collaboration with the public and private sectors, the government hopes to provide unique employment options and flexibility for foreign workers and returnees. For example, one proposed idea is to allow “open-ended employment visas” to those who will have annual salaries over RM 95,000 (US$31,000). The special visa would enable holders to change jobs in Malaysia with ease.

Another incentive idea is to expand the kinds of properties in Malaysia that foreigners can purchase. Currently, foreigners can only purchase properties that are priced above RM 500,000 (US $161,000). If the new incentive program goes into effect, foreigners will be able to buy any properties valued at RM 250,000 (US$80,500) and higher.

Under recent overarching schemes such as the 10th Malaysia Plan, over RM 200 billion (US$70 billion) is planned to be invested into infrastructural and institutional projects to further develop the country. Initiatives such as the Talent Corporation are a part of the country’s investments to become a more significant economic and social power by 2020. With these programs intent on creating a more favorable work environment for returnees and foreigners, foreign companies will have a wider pool of strong candidates for operations in Malaysia.