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BUSINESS

#MyMudah programme set to ease regulatory burden for Malaysian businesses

26/10/2020 12:52 PM

KUALA LUMPUR, Oct 26 -- The government’s #MyMudah programme is expected to help businesses by addressing unnecessary and burdensome regulations that are impeding their recovery and growth in the current challenging economic climate due to the COVID-19 health crisis.

International Trade and Industry (MITI) Deputy Minister Datuk Lim Ban Hong said #MyMudah will help to reduce regulatory compliance costs for businesses and allow them to invest in creating more jobs to stimulate the economy.

"Through this initiative, policymakers, regulators or regulating bodies are encouraged to either abolish, review and temporarily or permanently waive certain regulatory requirements if they are found to be burdensome for businesses and hinder their economic growth.

“I’m looking forward to seeing more issues resolved under the #MyMudah initiative as this will enhance the ease of doing business for local industries and accelerate Malaysia’s economic recovery,” he said in a statement today.

Since the launch of #MyMudah on July 20, 2020 by the Malaysia Productivity Corporation (MPC), an agency under MITI, 300 issues had been highlighted by businesses through the Unified Public Consultation (UPC) portal. 

Of the total, 58 per cent were about services, 22 per cent about government policies, nine per cent on construction, seven per cent on agriculture, three per cent on manufacturing and three per cent on mining and quarrying.

Meanwhile, Lim said that the MPC has also implemented various activities to engage with businesses in Malaysia.

A total of 41 Business Virtual Round Table discussions and online meetings have been conducted to identify the regulatory issues faced by Malaysian business community.

Additionally, 47 companies have participated in the one-on-one Business Regulation Virtual Advisory Clinics.

Moving forward, Lim said MITI through MPC will ramp up efforts to address and resolve various industry issues that are highlighted via the UPC Portal.

“We would also like to invite businesses and other key stakeholders to work collaboratively with the government to reduce regulatory burdens by sharing their inputs on regulatory issues that are counterproductive,” added Lim.

-- BERNAMA

 

 


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