KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim wants regulations governing e-commerce expedited, saying it will make it easier for Malaysians, particularly young entrepreneurs, to do business.
Anwar, who is also Finance Minister, said the government was reviewing laws and regulations related to e-commerce to make the digital business ecosystem more accessible to entrepreneurs and small businesses and new legislation could be ready as early as October.
He said the government was prepared to listen to industry players and make the necessary adjustments if proposals could benefit businesses and the public.
“If it is genuinely attractive, beneficial and provides opportunities for the people and young Malaysians to do business, I can approve it by early October,” he said when launching the TikTok Summit Malaysia 2026 here on Thursday (Aug 20).
However, Anwar said efforts to ease doing business online must be accompanied by appropriate safeguards to prevent abuse of digital platforms.
The government, he said, wanted to encourage legitimate and bona fide businesses while ensuring that ethical standards and consumer protection were not compromised.
“Every new effort or initiative will also have its shortcomings and challenges.
“We want to encourage legitimate, bona fide businesses, but we know this space is also open to those who may abuse it,” he said.
Anwar said ethics must remain central to the growth of the digital economy, including ensuring that food and other products sold online are of acceptable quality and that consumers are not misled or deceived.
Technological progress and economic growth, he added, should go hand in hand with human values in line with the Malaysia Madani framework.
Anwar said the government would also continue looking at ways to improve access to financing and other support for small entrepreneurs starting businesses without an established track record.
He said digital platforms, new technologies and artificial intelligence (AI) could open up business opportunities that were previously beyond the reach of many young Malaysians.
The government, he said, did not intend to interfere excessively in the sector, but would instead act as a facilitator by providing the support businesses needed to grow.
“Don’t assume that I have expertise in this field, but the difference is that the government leadership is prepared to listen and make adjustments to ensure things work,” he said.
Anwar said such an approach was necessary to ensure the benefits of the digital economy were spread more widely, particularly among micro, small and medium enterprises.
Earlier this month, Deputy Domestic Trade and Cost of Living Minister Datuk Fuziah Salleh said the proposed e-commerce Bill will tighten regulation on foreign platforms and cross-border trade, ensuring overseas merchants adhere to the same standards as Malaysian businesses.
The Bill is expected to address evolving cross-border business models, ensuring foreign platforms offering products to local consumers face the same obligations as local ones.
