NEARLY 2,000 business owners in Kuala Lumpur have renewed their licences for three years since the new regulation came into force.
Effective July 1, Kuala Lumpur City Hall (DBKL) allowed businesses to renew their licences for up to three years.
Businesses that opt for a three-year renewal receive a 10% discount on renewal fees, while those renewing for two years receive a 5% reduction.
Minister in the Prime Minister's Department (Federal Territories) Hannah Yeoh said the updated regulation aimed to help businesses streamline their operations and improve efficiency.
"When you have a business licence for three years, it will definitely help improve your financial standing.
"And I am sure these numbers will continue to grow," she said, adding that about 700 businesses had renewed their licences for two years.
Yeoh said this in her speech at The Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI) anniversary dinner in Petaling Jaya, Selangor, on Friday (Oct 2).
The dinner was held to commemorate KLSCCCI's 122nd anniversary.
Also present were KLSCCCI president Datuk Ng Yih Pyng and Selangor investment, trade and mobility committee chairman Ng Sze Han.
