THE business community is calling on the government to review relevant regulations ahead of the tabling of Budget 2027, to ensure better economic growth next year.
It is calling attention to issues such as the threshold for preferential corporate tax treatments meant for small and medium enterprises (SMEs), stamp duty and e-invoicing.
Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI) president Datuk Ng Yih Pyng said a review of the regulations was necessary for improved operations and ensuring greater certainty for businesses.
“Our objective is straightforward: clearer rules, simpler procedures and a more predictable business environment,” he said.
“When businesses spend less time navigating administrative burdens, they can spend more time hiring people, improving productivity, developing products and entering new markets.”
Ng also urged the government to pay attention to the increased competition from international trade faced by local businesses.
He said although the association welcomed competition and open markets, those coming from outside must be subject to the appropriate rules.
“Local businesses have to operate with costs such as rental, manpower, taxes and regulatory compliance.
“We welcome competition but it should also take place on a fair and consistent basis, with businesses operating in Malaysia,” he said.
Ng was speaking at the KLSCCCI anniversary dinner in Petaling Jaya, Selangor, to celebrate the association’s 122nd anniversary.
He called on Malaysian businesses to adapt to remain relevant in the digital landscape.
Artificial intelligence and automation, he said, were changing the way companies produce, sell and serve their customers.
“For SMEs, the challenge is often not lack of willingness, but knowing where to begin, finding the solutions and developing the necessary skills.
“We hope that the government’s support for digitalisation, training and productivity improvement can become more accessible,” he said.
Guest-of-honour Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh congratulated and thanked KLSCCCI for its contribution to the Malaysian economy.
She said the government remained committed to helping businesses improve their operations by simplifying legal procedures such as licence renewal and introducing clearer guidelines.
Also present was Selangor investment, trade and mobility committee chairman Ng Sze Han.
