Malaysian Tourism and Culture Minister Mohamed Nazri Abdul Aziz

Kuala Lumpur : Malaysian Tourism and Culture Minister Mohamed Nazri Abdul Aziz said more than 33,000 foreigners from 126 countries have settled in the country under the Malaysia My Second Home (MM2H) program since 2002, The STAR ONLINE reported.

The minister said a total of 12.8 billion Malaysian Ringgits (RM) was generated in tangible benefits and total receipts for the local economy as of February this year. He added that the figure did not include any spillover effects.

“The collection from visa fees alone is RM7.5 million annually and fixed deposits stands at RM4.9 billion and car purchases of RM148 million,” Nazri said in his speech at the official opening of the MM2H National Workshop 2017 here on Thursday.

He also recognized the efforts of the Bank of China, which are partners in the financial aspects of the program. Mohamed Nazri added that for the past 10 years, Malaysia has been ranked as the world’s sixth best retirement haven and is the only Asian country to make the list compiled by online portal International Living.

“The Japan Long Stay Foundation (LSF) awarded Malaysia as the choice market for the Japanese since 2006,” he added.

—AB/IINA