Thursday, September 3, 2015

TalentCorp turns Malaysia’s brain drain to brain gain - Business News | The Star Online

TalentCorp turns Malaysia’s brain drain to brain gain - Business News | The Star Online: "FOUR years ago when the Government was confronted with a difficult question of how could it reverse the brain drain into a brain gain, it decided to embark on two major initiatives. 

This saw Talent Corporation Malaysia Berhad (TalentCorp) embarking on the first, which was the Returning Expert Programme (REP) to encourage Malaysians working abroad to return to the “Tanah Air”. 

The second was the Residence Pass–Talent (RP-T) to retain highly skilled expatriates already working in Malaysia.

Both initiatives have shown results as attested by the World Bank. In its June 26 report “Improving the Effectiveness of TalentCorp’s Initiatives”, the World Bank stated “the REP is in fact effective in attracting people (Malaysians) with the skills that Malaysia needs.”

The report assessed and analysed the effectiveness of TalentCorp’s efforts since January 2011 to attract and retain global talent through its REP and RP-T initiatives.

Most importantly, instead of resulting in loss of taxes, the REP offered positive monetary value to Malaysia, with net fiscal benefits estimated at RM27,000 per returned applicant."



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