Introduction and Invitation for Collaboration

1. Introduction and Invitation for Collaboration 31 May 2011

2. Agenda 1. Introduce you to TalentCorp 2. Facilitating Foreign Talent

3. P Talent a pre-requisite for Malaysia to achieve high-income status Need to move from middle- to high- income War for talent is global and intense Malaysia must be choice destination for work GDP Growth • 214 million international migrants worldwide • By 2030, US and Europe will need to add 25 and 24 million workers • Not a South-to-North phenomenon – 40% of worlds immigrants move from one developing country to another 2012 forecasted Global Talent Index (Asia Pacific) 1991-1997 2001-2009 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Singapore Australia China Hong Kong New Zealand Japan India Taiwan South Korea Malaysia Thailand Philippines Vietnam Indonesia Sri Lanka Pakistan Cambodia China Must be among top destination for talent by 2020 7% growth required for 2020 target Malaysia Singapore Vietnam Korea Taiwan Indonesia Thailand India Philipines Talent a critical enabler Source: World Economic Outlook (2010); International Monetary Fund; New Economic Model; Heidrick & Struggles

4. Addressing the talent needs of Malaysia’s transformation MISSION: To do what it takes to meet the talent needs of Malaysia's economic transformation

5. TalentCorp to do what it takes to meet the talent needs of Malaysia’s economic transformation Taking a demand driven approach to address talent needs Malaysian talents 1 Nurture and leverage on Malaysian talents in Malaysia Attract and engage Malaysian Diaspora 2 Global/ foreign talents Unleash and retain foreign talents within Malaysia Attract and facilitate entry of foreign talents into Malaysia 4 3

6. Next steps May 2011 onwards Priorities for 2011 Initiatives announced in April 2011 Malaysian talent abroad Outreach through embassies Engagement through social media & portal Diaspora Conference Returning Expert Programme Professionals JPA Scholarship Bond Transfer Promotion & Outreach Scholars Career Fairs Job Placement Foreign talent Immigration Residence Pass Network with expat community Promotion as work destination Malaysian talent in Malaysia NKEA Sectoral Working Groups E&E Sectoral Working Group Talent Gap Assessment Policy Initiatives Upskilling

7. Agenda 1. Introduce you to TalentCorp 2. Facilitating Foreign Talent

8. Employment Pass liberalisation Issues on employment pass which were raised during syndication by TalentCorp TalentCorp role in supporting KDN / Immigration Department’s efforts to facilitate entry of talent • Employment Pass parameters which were perceived to inhibit entry of top foreign talent • Need for identified understudy to renew employment pass • 10-year employment pass limit, with 2-year renewals • Need to show lack of suitable local candidates for a role • Hence, announcements on 6 December 2010 on liberalising understudy, tenure limit and advertising requirement • Act as a bridge between Government and industry needs • Developing criteria for highly skilled talent based on industry needs and specific qualification metrics (education, salary, sector, etc) • Engaging in dialogue with relevant Government agencies in policy development and balancing potentially competing policy objectives • Identification of top talent • Top foreign talent to be identified and proactively approached • Would help reinforce Malaysia's commitment of being open for business and openness to talent • Extend mandate of TalentCorp to assist in vetting applications by top talent • To assume mandate similar to BNM/SC for employment of foreign talent in financial services sector "To apply for my permit, I need to identify an understudy 2 years in advance" – (Head, E&E player) “Foreign talent less likely to commit & invest in Malaysia if subject to limits" "I need to advertise my position in national newspapers every year" – (CEO, Healthcare player) Active intervention needed given global war for top talent

9. Residence Pass RP allows foreign talent to continue contributing Currently only two instruments for foreign talent Residence Pass complements EP and PR Employment Pass (EP) • Long-term, but temporary • Employer- and employment- independent • Targeted at top talent • Family of holder eligible for RP • No constitutional rights 1 • Short-term • Sponsored by employer 2 3 Permanent Resident (PR) 4 • Permanent • Children of PR holders granted citizenship 5 Residence Pass implemented in April 2011

10. Phase 1 focuses on foreign talent already in MalaysiaSubsequent phases will be rolled out Benefits Who qualifies? PHASE 1 Being able to work and live in Malaysia for up to 10 years (renewable) 1 Any foreign talent who has been living and working in Malaysia for at least 3 years on a continuous basis Flexibility to change employers without having to renew the pass 2 PHASE 2 The spouse and children (under eighteen years old) of the recipient will also be awarded the same benefits • Foreign talent studying in Malaysia • Persons of Malaysian origin abroad 3 Website: www.expats.com.my/rp Contact: rphelpdesk@talentcorp.com.my

11. Initial phase – top foreign talent in Malaysia 3 broad sets of criteria for candidates potentially offered RPs by TalentCorp

12. Application process flow

13. Transparent Application Procedure • Apply at www.talentcorp.com.myor directly at landing page www.expats.com.my/rp • There are no Quotas or Agents for the pass • Online Eligibility assessment tool • Fast Turnaround of Application : Applicants informed of approval/ rejection within 21 working days • TalentCorp single point of contact for pass issuance

14. Conclusion Malaysia needs to be a globally attractive workplace TalentCorp will take demand-driven approach to talent issues, with a specific focus on facilitating foreign talent Partnership with progressive associations like CIIM critical We look forward to your continued feedback and support!