PUTRAJAYA, Aug 27 — Putrajaya plans to introduce a Government Efficiency Commitment Act to address legislative and procedural challenges faced by micro, small, and medium enterprises (MSME) when interacting with the government.
Minister of Economy Rafizi Ramli said the law would serve as a measuring tool and benchmark, enabling the government to expedite business processes.
“We’re all aware that the regulations, especially those involving businesses in Malaysia, can be lengthy compared to other countries that are more agile and quicker.
“The public knows that here, getting anything done or changing anything can take four to five years and involve several agencies,” he said at the launch of the OECD economic survey at the Putrajaya International Convention Centre here today.
The OECD stands for Organisation for Economic Co-operation and Development, of which Malaysia is a member.
Rafizi said his ministry is looking into ways to improve the current situation to raise Malaysia’s business competitiveness.
He noted that countries with slow and complex bureaucracy tend to earn a low ranking.
As such, Rafizi said his ministry has been working with the National Economic Action Council since March to come out with guidelines to cut the red tape for MSME.
“Hence, we will roll out the Government Efficiency Commitment Act.
“This will be the first time in history that the government commits to a steady reduction in legislation and streamlining the process.
“For every regulation removed, one will be introduced, and it will eventually become a key policy to help MSMEs scale up,” he said.
MORE TO COME
