Welcoming Remarks by YBhg. Tan Sri Dr. Ali Hamsa
Chief Secretary to the Government of Malaysia
FORUM ON REGULATORY REFORM RESPONSES TO ECONOMIC CHALLENGES
17 December 2015 (Thursday)
The Royale Chulan, Kuala Lumpur
Assalamualaikum Warahmatullahi Wabarakatuh,
Good Morning and Salam 1Malaysia
YBhg. Tan Sri Dr. Rebecca Fatima Sta Maria,
Ministry of International Trade and Industry, Malaysia.
Mr. Jaeho Moon,
The Permanent Delegation of the Republic of Korea to the Organisation for Economic Co-operation and Development (OECD), Korea.
YBhg. Dato’ Mohd Razali Hussain,
Malaysia Productivity Corporation (MPC).
Dr. Ponciano S. Intal, Jr.,
Economic Research Institute for ASEAN and East Asia (ERIA).
Mr. Mark Steel,
Regulatory Systems, Office of the Chief Executive,
Ministry of Business, Innovation and Employment, New Zealand.
Board of Directors, Malaysia Productivity Corporation;
Representatives from the OECD and ASEAN,
Ladies and Gentlemen,
1. It gives me great pleasure to be here this morning at the Forum on Regulatory Reform Responses to Economic Challenges. This forum is a strategic initiative by the Malaysia Productivity Corporation (MPC), the Organisation Economic Co-operation Development (OECD) and the Permanent Delegation of the Republic of Korea to the OECD. Allow me to also bid our friends from abroad, a warm welcome to Kuala Lumpur.
2. I am glad to note that the audience today comprises government officials, experts and practitioners from the OECD, ASEAN Member States as well as other international organisation. Your presence reflects both commitment and conviction of everyone to the importance of knowledge-sharing and international cooperation on regulatory reform.
3. Indeed, the organisation of this forum at this juncture is most fitting and apt, as we are facing various economic challenges at present.
IMPORTANCE OF REGULATORY REFORM
4. Regulatory reform assists countries to respond better to economic challenges. This forum will discuss selected countries’ experiences of regulatory reform to address economic crises. It will also provide opportunities for participants to discuss the most recent practices in responses to economic challenges, focusing primarily on innovative practices for regulatory reform.
5. While implementing reforms is a constant process, they are particularly relevant at a time of crisis. Many reforms, for instance, have been prompted by economic recession, or crises such as the recent global financial crisis. Further back in history, a case in point is the Republic of Korea’s remarkable turnaround since the 1997 Asian financial crisis. Korea bounced back to even greater heights thanks to the reforms that leveraged on the country’s strong fundamentals, complemented by public sector innovation, investment promotion as well as legal and institutional advancement. These reforms were estimated to have reduced regulatory compliance costs by USD15 billion.
6. On that note, why is Good Regulatory Practice (GRP) important in ASEAN? Regulatory frameworks have impacted the region’s trade and investment. With the formal establishment of the ASEAN Economic Community, it is vital that individual member states commit to developing consistent regulatory systems that can facilitate free trade and investment in the region.
REGULATORY REFORM IN MALAYSIA
Distinguished Guests, Ladies and Gentlemen,
7. Here in Malaysia, the Government has made GRP a key priority. We are 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.
8. Reforming Malaysia’s regulatory regime is necessary to support the country’s aspiration to become a high-income nation by 2020. These reforms comprise a very important component of the Government’s Economic Transformation Programme and Government Transformation Programme. Under these initiatives, the government launched the National Policy on the Development and Implementation of Regulations (NPDIR) on 15 July 2013. This policy introduces the use of RIA in decision making to enhance the transparency and credibility of regulatory changes.
9. MPC is the key coordinating agency for the NPDIR and has developed a network of Regulatory Coordinators (RCs) across government agencies to implement the 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).
Distinguished Guests, Ladies and Gentlemen,
10. The key challenge here is to maintain this strategic advantage and sustain the GRP momentum. I believe with everyone’s participation and commitment, we shall succeed in achieving our goals.
11. I also understand that tomorrow, the Good Regulatory Practice Network (GRPN), comprising senior officials responsible for Good Regulatory Practice initiatives in ASEAN Member States and OECD member countries, will convene. Please use this opportunity to discuss issues of common interest and share innovative ideas.
12. I thank all of you for your time and attention and wish all of you a fruitful session, and an enjoyable time in Kuala Lumpur. With that, I now officially open the “Forum on Regulatory Reform Responses to Economic Challenges.”
Last updated on : 2015-12-29 15:11:14