Kuala Lumpur 3 November 2020 – The Malaysian government has introduced a non-fiscal initiative called #MyMudah programme to address unnecessary and burdensome regulations that have been impeding businesses’ recovery and growth in the current challenging economic climate due to the COVID-19 pandemic.
“Time is money, so helping businesses save time is akin to giving them an injection to their bottom line,” said Deputy Minister of International Trade and Industry (MITI), Datuk Lim Ban Hong. Through this initiative, local businesses will be able to reduce regulatory compliance costs and invest in more job creations to stimulate the economy.
Policymakers, regulators or regulating bodies are encouraged to either abolish, review and temporarily or permanently waive certain regulatory requirements if found burdensome to the businesses and hinder their economic growth.
“I am looking forward to seeing more issues be resolved under the #MyMudah initiatives as this will enhance the ease of doing business for local industries and accelerate Malaysia’s economic recovery,” added Lim.
Since #MyMudah launch on 20 July 2020, 300 issues have been submitted by businesses through the Unified Public Consultation Portal (per 26 October 2020). Of all the submissions, 58 per cent of the issues are on services, 22 per cent on government policies, 9 per cent on construction, 7 per cent on agriculture, 3 per cent on manufacturing, and 3 per cent on mining and quarrying.
To date, MPC has also implemented various activities to engage with businesses in Malaysia. A total of 41 business virtual roundtable discussions and online meetings have been conducted to identify the regulatory issues faced by Malaysian business community. In addition, 47 companies had participated in one-on-one business regulation virtual advisory clinics to validate the issues highlighted.
– Construction+ Online