Its president, Anthony Liew, said MM2H has been a significant contributor to Malaysia’s economy, attracting high-net worth individuals from around the world, while the revamped programme under Tiong has enhanced its appeal.
“It provides substantial economic benefits to various sectors, including government, hospitality, medical tourism, private education, real estate, and financial institutions.
“The proposed revamp, with its streamlined processes and attractive incentives, is poised to further enhance the programme’s appeal and competitiveness,” he said in a statement.
Liew said stability of leadership in the ministry was crucial to ensure that MM2H participants feel secure and confident about their long-term stay in Malaysia.
“We are confident that, through Tiong’s guidance and the dedicated team at the ministry, the revamped MM2H programme will be a resounding success. We pledge our full cooperation and support to ensure its smooth implementation and long-term sustainability,” he said.
MM2H was introduced in 2002, allowing foreigners to buy property and live in Malaysia for an extended period, but was temporarily frozen in August 2020 for a review by the home ministry and the tourism, arts and culture ministry.
It was revamped in 2021 with tighter conditions, drawing calls for a further review from consultants and even Sultan Ibrahim Sultan Iskandar. It was again revamped after Tiong took over as minister, with three tiers introduced and its financing rules updated.
There have been calls for Tiong to be replaced as the tourism minister after he hit out at Dr Mahathir Mohamad over the former prime minister’s criticism of signboards in Chinese.
Bersatu’s Masjid Tanah MP Mas Ermieyati Samsudin initially suggested that the government consider changing Tiong’s portfolio to one that focussed on enforcement, while the Umno veterans’ club called for Tiong to be replaced to protect the nation’s reputation. - FMT
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