17 December 2015, Kuala Lumpur – In the fiscal environment that many countries now face, regulatory improvements and reforms are increasingly seen as an attractive alternative to fiscal and taxation measures.

The role of regulatory reform is two-fold. There is strong evidence that regulatory reform leads to enhanced long-term productivity and resilience, contributing to sustainable growth.

Malaysia Productivity Corporation (MPC) in collaboration with the Permanent Delegation of the Republic of Korea to the Organisation for Economic Co-operation and Development (OECD) has organised the “Forum on Regulatory Reform Responses to Economic Challenges” to discuss and share experiences from international and regional level on the need for regulatory systems that are more effective in mitigating challenging scenarios, promoting growth and protecting citizens.

Chief Secretary to the Government of Malaysia, YBhg Tan Sri Dr. Ali Hamsa said, as ASEAN moves towards its goal for economic integration and establishing the ASEAN Economic Community (AEC), it becomes important that individual member states commit to developing consistent regulatory systems that can facilitate free trade and investment in the region.

“Here in Malaysia, the Government has made Good Regulatory Practice (GRP) a key priority. This means investing more resources to build capacity to implement GRP in policy areas that impact on public service delivery.

Decision makers now require adherence to GRP with a focus on evidence-based decision making, Regulatory Impact Analysis (RIA) and public consultation when developing regulatory proposals,” he said in his speech during the opening, today.

He adds, reforming Malaysia’s regulatory regime is necessary to support the country’s aspiration to become a high-income nation by 2020 through private-sector driven and people-centered growth.

“As a result, the government launched the National Policy on the Development and Implementation of Regulations (NPDIR) on 15 July 2013, which introduces the use of RIA in decision-making to enhance the transparency and credibility of regulatory changes,” he said.

MPC is the key coordinating agency for the NPDIR and has developed a network of Regulatory Coordinators (RCs) across government agencies to implement this policy. MPC is also the secretariat for the Special Task Force to Facilitate Business (PEMUDAH), which is the bridge for the NPDIR implementation and stakeholders external to government. PEMUDAH and MPC regularly collaborate to identify unnecessary regulatory burdens across different sectors, especially in National Key Economic Areas (NKEAs).

Among those who attended the program are the Secretary General of the Ministry of International Trade and Industry (MITI), YBhg Tan Sri Dr. Rebecca Fatima Sta Maria, Counselor and The Permanent Delegation of the Republic of Korea to the OECD, Korea, Mr Jaeho Moon and Director General of MPC, YBhg. Dato’ Mohd Razali Hussain.
Last updated on : 2015-12-29 15:03:14

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