KUALA LUMPUR: The Malaysia Productivity Corporation (MPC) estimates that the public sector can save at least RM1 billion in costs through Good Regulatory Practice (GRP).
Director-general Datuk Mohd Razali Hussain said the Government's move to promote a competitive business environment had contributed significantly in accelerating economic and social development.
"At the enterprise level, we aim to generate RM650 million in cost savings from programmes designed to tap the optimal capabilities of enterprises," he told reporters after delivering his speech at the Innovation for Productivity Enhancement Showcase in Kuala Lumpur on Thursday.
Organised by MPC, the one-day event is aimed at showcasing the effectiveness of strategic partnership platforms in enhancing productivity.
Also present were the International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan.
Razali said that last year, 198 business regulations were reviewed which resulted in an estimated compliance cost savings of RM1.13 billion.
At the enterprise level, he said more than RM650 million in cost savings were generated through process innovation projects, and RM6.4 million from lean projects involving 302 companies.
Razali said several initiatives had been implemented to boost productivity in Malaysia since the mid-90s, resulting in productivity improvements over the years.
"But the progress is relatively slower by international comparison," he said.
He said MPC continued to spearhead the country's efforts at boosting competitiveness in productivity through partnerships with various ministries, government agencies and industry associations.
On the international front, he said the MPC collaborated with the Asian Productivity Organisation and Japan International Cooperation Agency in productivity improvement, while providing and facilitating industries with technical and management productivity enhancement skills and know-how.
He added that MPC's on-going affiliation with the International Institute for Management Development, the World Bank, Organisation for Economic Cooperation and Development, and the World Economic Forum, signified its endeavour in measuring and analysing the country's productivity and competitiveness performance. - Bernama
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