PETALING JAYA: Malaysia Productivity Corporation (MPC) has expanded the scope of #MyMudah initiative to collect and address regulatory concerns from start-up companies.
The facilitation supports the government’s aspiration to create at least 5,000 start-ups by 2025 and increased market entry for new businesses as stipulated in Malaysia Digital Economy Blueprint (MyDigital).
MPC Director General, Datuk Abdul Latif Abu Seman, in a statement said, “The pandemic has taught a lesson that innovation, technology, and digitalisation are inevitable in the current and future economic sphere. For start-ups and tech companies to grow, the regulatory environment must be conducive and agile to fit the very nature of tech evolution itself, which is rapid and very dynamic. MPC would like to hear from the horse’s mouth, the problems your business faces in navigating through the regulatory process in managing your operation”.
Expanding #MyMudah scope to start-ups is expected to collect and identify regulatory challenges specific to, among others, fostering innovation, establishing and running a start-up company, and conducting research and development.
Start-up companies are strongly urged to register regulatory challenges impeding their business growth at http://mymudah.mpc.gov.my/, here, the companies can share detailed issues faced and propose possible solutions to the challenges.
Addressing the legislative issues relevant to start-ups is expected to ease their business operation in ensuring that innovation does happen within a supporting business environment.
“We do understand that most of our regulations and acts were designed during the time when the internet and technology were relatively at the infancy in our country. Some policies work yet others may require improvements. Knowing which one affects businesses directly enables us to address the issues and design interventions more effectively and accurately”, said Abdul Latif.
The #MyMudah initiative has so far collected more than 450 issues from various sectors via the Unified Public Consultation (UPC) portal.
Regulatory concerns for the service sector recorded the highest number of issues registered at 62 per cent, followed by the construction industry at 23.6 per cent.
Issues registered from the agriculture industry are currently at 8.2 per cent, whereas from the manufacturing and mining and quarrying sectors are at 5.1 per cent and 1.1 per cent respectively.
Through #MyMudah, MPC also hopes to uncover the extent of the unnecessary regulatory burden faced by the existing technology-based businesses where user companies are required to share information on the specific act, regulation, or guidelines which are burdensome for them to grow faster on the portal.
Source:
NST