Miti introduces non-fiscal initiative under #MyMudah to address burdensome business regulations

PETALING JAYA: The Ministry of International Trade and Industry (Miti) has introduced a non-fiscal initiative under the #MyMudah programme to address unnecessary and burdensome regulations impeding the recovery and growth of businesses hit by the Covid-19 pandemic.

Under this initiative, Miti said local businesses will be able to reduce regulatory compliance costs and invest in more job creations to stimulate the economy.

It added that policymakers, regulators or regulating bodies are also urged to either abolish, review, and temporarily or permanently waive certain regulatory requirements if it is found to be burdensome to businesses' and hinder their economic growth.

“Time is money, so helping businesses save time is akin to giving an injection to their bottom line, ” said Deputy Miti Minister Datuk Lim Ban Hong (pic) in a statement on Monday (Oct 26).

He added that he is looking forward to seeing more issues resolved under the #MyMudah initiatives as this will enhance the ease of doing business for local industries and accelerate Malaysia’s economic recovery,

#MyMudah was launched on July 20 by the Malaysia Productivity Corporation (MPC), an agency under Miti.

Miti said that 300 issues have been submitted by businesses through the Unified Public Consultation (UPC) Portal, adding that 58% of issues are centred around services and 22% are centred on government policies.

It added that 9% of the issues submitted are linked to construction while 7% are about agriculture, 3% are on manufacturing and 3% are related to mining and quarrying.

“I would like to congratulate MPC and all the relevant stakeholders who came together to resolve these issues for the benefit of all businesses and Malaysians at large, ” said Lim.

He added that one success of #MyMudah is the quick technical approval for completed construction projects.

"Moving forward, Miti through MPC will ramp up efforts to address and resolve various industry issues that are channelled through the UPC Portal.

“We would also like to invite businesses and other key stakeholders to work collaboratively with the government to reduce regulatory burdens by sharing their input on regulatory issues that are counterproductive, ” Lim added.

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