Govt to table Government Efficiency Commitment Act by year end, says Rafizi

 

Economy minister Rafizi Ramli said the Government Efficiency Commitment Act would serve as a measuring tool and benchmark for the formulation of regulations governing businesses.

PUTRAJAYA: 

Economy minister Rafizi Ramli says Putrajaya will table a Government Efficiency Commitment Act by the end of the year, in which the government will commit to a steady streamlining of regulations binding businesses.

“If we compare the time taken to form a company in Malaysia with other countries, we are actually slower.

(There are many) procedures one has to comply with to get approval (to start a) business. This Act will help quicken the process,

 he told reporters at the launch of the 2024 OECD economic survey.

He said the Act would serve as a measuring tool and benchmark for the formulation of regulations governing businesses.

“For example, for every one regulation that is put in, take one regulation out. This kind of legislation is actually quite common in other countries.

Of course, we will develop it in such a way that we don’t rock the boat too much, but I do feel it is going to be the first important step for us in managing our regulations,

 he said.

Separately, Rafizi said his ministry had completed its report on the national ageing blueprint.

It will be tabled with the National Economic Action Council (MTEN) in November and be part of the main focus of the 13th Malaysia Plan,

 he said.

Rafizi said it would be shown to the public once tabled with MTEN and approved by the government.

The economy ministry also suggests that a white paper be brought to Parliament, because the entire discussion regarding this should be known to the public,

 he said.

It was reported last year that 15% of Malaysia’s population will comprise those aged 60 years and above by 2030. - FMT