The Government has introduced a non-fiscal initiative called #MyMudah programme, to address unnecessary and burdensome regulations that are impeding businesses’ recovery and growth in the current challenging economic climate due to the Covid-19 pandemic.
“Time is money, so helping businesses save time is akin to giving them an injection to their bottom line,” said Deputy Minister of International Trade and Industry, Datuk Lim Ban Hong in relations to #MyMudah by Malaysia Productivity Corporation (MPC), an agency under Ministry of International Trade and Industry (MITI).
Through #MyMudah, local businesses will be able to reduce regulatory compliance costs and invest in more job creations to stimulate the economy.
Through this initiative, policy makers, regulators or regulating bodies are encouraged to either abolish, review, and temporarily or permanently waive certain regulatory requirements if found burdensome to the businesses and hinder their economic growth.
“I’m looking forward to seeing more issues be resolved under the #MyMudah initiatives as this will enhance the ease of doing business for local industries and accelerate Malaysia’s economic recovery,” added Lim.