Minister in the Prime Minister's Department (Federal Territories) Hannah Yeoh said unnecessary procedures would be eliminated to ease the administrative burden on businesses, improve time and cost efficiency and reduce room for corruption.
Speaking at the Malaysia Retail Chain Association (MRCA) Installation and 34th Anniversary Night, Hannah said the government must also improve its delivery systems if businesses were expected to adapt and improve.
"I may not have the money to put cash in your hands, but I promise to review and cut out corruption, to cut out unnecessary processes so that you can save money and time, and make business easier for everybody. You have enough challenges dealing with online business and global trends," she said here today.
She said practical administrative changes had already been implemented to provide business owners with greater certainty.
For instance, Hannah said eligible Kuala Lumpur City Hall (DBKL) business licences could now be renewed for up to three years, with businesses opting for a two-year renewal receiving a five per cent discount, while a three-year renewal came with a 10 per cent discount.
To further encourage the entertainment and events sector in Kuala Lumpur, Hannah said deposits for concerts and local shows had been reduced by 70 per cent.
On the evolving retail landscape, she urged physical retailers to adapt to changing consumer behaviour by transforming malls into community hubs offering dynamic food, cultural and entertainment experiences.
She said giving consumers compelling reasons to visit and stay was crucial, especially as online shopping became increasingly dominant.
Hannah also advised traditional businesses to consider employing younger talent to help with digitalisation, noting that both young people and senior citizens were now active users of e-wallets and online shopping platforms. - FMT
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