Malaysia gets about $3.0b thru’ second home programme

Dhaka,  Tue,  25 July 2017
Published : 14 Jul 2017, 01:13:52 | Updated : 14 Jul 2017, 19:56:14
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Malaysia gets about $3.0b thru’ second home programme

Bangladeshis among top three
Malaysia gets about $3.0b thru’ second home programme
KUALA LUMPUR: A total of RM12.8 billion ($2.98 billion) has been contributed to the local economy through the Malaysia My Second Home (MM2H) programme since its inception in 2002, according to a reports by www.thesundaily.my.

Bangladesh nationals are among the top three, who have been accepted for an international residency scheme by Malaysia, according to local media.

Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz said the contribution included the purchase of property amounting to RM4.9 billion, fixed deposits (RM4.9 billion), purchase of automobiles (RM148 million), collection of visa fees (RM52 million) and estimated RM10,000 monthly out-of-pocket expenses.

"This amount has not even taken into consideration the spillover effects of the participants' relatives and friends visiting Malaysia and spending on accommodation, food, travelling and shopping," he said in his speech at the Malaysia My Second Home National Workshop, here, today.

He noted that Until February this year, 33,300 applicants from 126 nations had been approved for the MM2H programme.

China was the top participating country with 8,714 approved participants, followed by Japan with 4,225, Bangladesh (3,546), United Kingdom (2,412), lran (1,336), Singapore (1,295), South Korea (1,266), Taiwan (1208), Pakistan (973) and lndia (890).

The intangible benefits, Mohamed Nazri said, would be how the participants help to promote Malaysia to their fellow countrymen.

"They would become our word-of-mouth endorsement to promote the programme and Malaysia as a holiday destination at no cost," he said.
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