ID :
170471
Thu, 03/24/2011 - 13:24
Auther :
Shortlink :
https://oananews.org//node/170471
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OUTDATED REGULATIONS WILL BE REMOVED TO FACILITATE INVESTMENTS - M'SIAN DPM
PUTRAJAYA, March 24 (Bernama) -- Regulations which are outdated and no
longer relevant will be reviewed in order to facilitate the targeted investment
under the Tenth Malaysia Plan (10MP), says Deputy Prime Minister Muhyiddin
Yassin.
He said an average investment of RM115 billion (US$38.33 million) per annum
would be needed between 2011 and 2015, with the target for this year being RM83
billion (US$27.6 billion)
From the 2011 figure, RM76 billion (US$25.33 billion) is expected to be
generated by the Economic Transformation Programme (ETP).
"To facilitate these investments, it is imperative that the service delivery
of both the government and private sector be enhanced."
This will provide a conducive environment that can facilitate investment, he
said in his speech at the Conference on Private Sector Efficiency and
Consumerism, here Thursday.
His speech was read by the Minister of Domestic Trade, Cooperatives and
Consumerism Ismail Sabri Yaakob.
Muhyiddin said the commitment of the Special Taskforce to Facilitate
Business or Pemudah had resulted in Malaysia's competitiveness ranking in the
World Bank-Doing Business Report 2010 moving up two places to the 21st place
from 23rd in 2009.
In the Institute for Management Development (IMD) 2010 World
Competitiveness Yearbook, Malaysia's ranking moved up to 10th place from the
18th spot in 2009.
The Focus Group on Private Sector Efficiency and Accountability, established
under Pemudah eight months ago, meanwhile has looked into 19 issues and
currently working on 26 initiatives.
The group looks at measures that could enhance delivery of the private
sector in terms of speed, performance, cost and reliability.
The Consumer Claims Tribunal meanwhile has seen various improvements
including reducing the number of days for a hearing to 45 days, Muhyiddin said.
Other improvements made under the Companies Commission of Malaysia include
the short period of one hour taken for business registrations and one day for
company incorporation.
"It is hoped that the impact of these initiatives will further enhance
Malaysia's Gross Domestic Product (GDP) and improve Malaysia's world
competitiveness ranking to the top five position by 2015," he said.
longer relevant will be reviewed in order to facilitate the targeted investment
under the Tenth Malaysia Plan (10MP), says Deputy Prime Minister Muhyiddin
Yassin.
He said an average investment of RM115 billion (US$38.33 million) per annum
would be needed between 2011 and 2015, with the target for this year being RM83
billion (US$27.6 billion)
From the 2011 figure, RM76 billion (US$25.33 billion) is expected to be
generated by the Economic Transformation Programme (ETP).
"To facilitate these investments, it is imperative that the service delivery
of both the government and private sector be enhanced."
This will provide a conducive environment that can facilitate investment, he
said in his speech at the Conference on Private Sector Efficiency and
Consumerism, here Thursday.
His speech was read by the Minister of Domestic Trade, Cooperatives and
Consumerism Ismail Sabri Yaakob.
Muhyiddin said the commitment of the Special Taskforce to Facilitate
Business or Pemudah had resulted in Malaysia's competitiveness ranking in the
World Bank-Doing Business Report 2010 moving up two places to the 21st place
from 23rd in 2009.
In the Institute for Management Development (IMD) 2010 World
Competitiveness Yearbook, Malaysia's ranking moved up to 10th place from the
18th spot in 2009.
The Focus Group on Private Sector Efficiency and Accountability, established
under Pemudah eight months ago, meanwhile has looked into 19 issues and
currently working on 26 initiatives.
The group looks at measures that could enhance delivery of the private
sector in terms of speed, performance, cost and reliability.
The Consumer Claims Tribunal meanwhile has seen various improvements
including reducing the number of days for a hearing to 45 days, Muhyiddin said.
Other improvements made under the Companies Commission of Malaysia include
the short period of one hour taken for business registrations and one day for
company incorporation.
"It is hoped that the impact of these initiatives will further enhance
Malaysia's Gross Domestic Product (GDP) and improve Malaysia's world
competitiveness ranking to the top five position by 2015," he said.
