What is Good Regulatory Practice (GRP)?
The government of Malaysia is continuously striving to maintain and enhance efficiency and competitiveness through private-sector driven and people-centred growth. GRP is one of the proven instruments to harness national efforts and resources for competitiveness and sustaining economic growth. GRP ensured that all regulations are effective in addressing the desired public policy objectives and in serving the country in a balanced and equitable approach and implemented in a transparent manner. Rule-making process will be improved to ensure that cumbersome regulations that create unnecessary burdens to society and business, discourage competition and innovation or alienate stakeholders are reduced and avoided.
GRP Portal (http://grp.mpc.gov.my/) has also been developed and will be used as a repository and reference for all regulators, stakeholders and interested parties.
GRP ensures that regulations:
• Serve clearly identified policy goals,
• Are effective in achieving those goals;
• Have a sound legal basis;
• Produce benefits that justify costs,;
• Promote innovation, are fair and equitable;
• Are clear, simple, and practical for users;
• Are consistent with other regulations and policies; and
• Are compatible with trade and international trade agreements.
To spearhead a comprehensive review of business regulations and improve processes and procedures to increase productivity and competitiveness of major economic sectors.