The Malaysian Government is strengthening the regulatory reform agenda through the National Policy on Good Regulatory Practice (NPGRP) which has been approved by the Chief Secretary to the Government on 22 June 2021. Implementation of NPGRP is expected to boost national productivity level and global competitiveness, which in turn may garner better economic growth and foreign investments.
Malaysia Productivity Corporation (MPC), an agency under the Ministry of International Trade and Industry (MITI) has been mandated to promote and support the implementation of NPGRP which includes undertaking outreach & promotion and providing advisory and training to assist regulators in complying with the national policy. MPC has also been the overseeing body for continuous regulatory reform efforts in Malaysia.
Dato’ Abdul Latif Haji Abu Seman, MPC Director General said, “NPGRP is a significant milestone for Malaysia’s journey in regulatory reform agenda. The national policy is expected to standardise and stabilise Malaysia’s regulatory environment as regulatory bodies are now instructed to align their practices to Good Regulatory Practice (GRP) as stated in Pekeliling Am Bilangan 1 Tahun 2021 effective 22 June 2021.”
“Regulatory reform agenda is not new in our country. It started in 2013 through the introduction of National Policy on Development and Implementation of Regulations (NPDIR). NPGRP is an update version of NPDIR with improvements based on the principles of Whole-of-Government approach, accountability, transparency, accessibility, inclusivity, cost-benefit assessment, predictability, and proportionality”.
“We understand that inconducive and confusing regulatory environment can discourage businesses and investors. This can demean a country’s plus points as a destination of choice for investments. Thus, a holistic take to a supportive regulatory ecosystem is crucial to enhance business efficiency. Malaysia is committed to this agenda”, Dato’ Abdul Latif added.
Malaysia’s regulatory reform journey has marked several achievements in the global arena. In World Bank’s Doing Business (DB) 2020 report, the overall ease of doing business in Malaysia was ranked at 12th position from 190 economies. DB ranking is based on the comprehensive 10 sets of indicators which assess regulatory quality and delivery. DB 2020 also recorded Malaysia’s impressive ranking in the 2nd position in dealing with construction permits. The upturns denote Malaysia’s positive trajectory in enhancing the ease of doing business and overall business environment to boost Malaysia’s productivity growth and competitive advantage.
As indicated from the international reports, MPC reiterates that Malaysia is on the right track in regulatory reform agenda to enhance the country’s business climate. MPC emphasises that continuous and concerted efforts are in place from the national policy to enforcement on the ground to improve the regulatory environment, a key driver to business environment.
The business community, either local or foreign companies, are strongly urged to channel their business regulatory concerns via MPC’s #MyMudah initiative at http://mymudah.mpc.gov.my/ .
–Bernama–
