MPC To Strengthen Regulatory Reforms To Boost National Competitiveness

KUALA LUMPUR, Oct 13 (Bernama) -- The Malaysia Productivity Corporation (MPC) will strengthen the implementation of Good Regulatory Practice (GRP) to help the country achieve its target of breaking into the top 12 nations in the International Institute for Management Development (IMD) World Competitiveness Ranking.

MPC director-general Dr Mohamad Norjayadi Tamam said quality regulations were essential to boosting business and investor confidence, accelerating investment realisation and stimulating the growth of micro, small and medium enterprises (MSMEs).

He said Malaysia’s rise to 15th place in the IMD World Competitiveness Ranking 2026 showed that reforms were beginning to yield results, but sustained efforts were needed to achieve the target.

“The leap to 15th place in the IMD ranking proves that reforms are beginning to yield results. However, to break into the top 12, every regulation, whether new or existing, must achieve its policy objectives at the lowest possible compliance cost,” he said in a statement today.

MPC welcomed the allocation of nearly RM25 million to the Special Task Force for Agency Reform (STAR) under Budget 2027 to expedite government dealings with the public and business sector, as well as the implementation of the Government Service Efficiency Commitment Act to improve public service delivery.

MPC, as the lead agency for GRP, the secretariat of the Special Task Force to Facilitate Business (PEMUDAH) and Malaysia’s partner institution of the IMD, will strengthen the implementation of GRP and Regulatory Impact Analysis (RIA) across ministries and agencies, including through periodic reviews of existing regulations.

It will also support the implementation of the Bureaucratic Red Tape Reform (RKB) initiative and the Government Service Efficiency Commitment Act, including regularly measuring and reporting savings in business compliance costs to assess the impact of reforms on the business sector.

In addition, MPC will work with PEMUDAH to identify and resolve regulatory barriers that delay business operations and the implementation of approved investments.

MPC’s efforts will also include risk-based licensing reforms, process digitalisation and providing expertise to review regulations and identify outdated laws to ensure the country’s regulatory environment remains agile, transparent and business-friendly, in line with the MADANI Economic Framework.

-- BERNAMA