By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, 24 Nov 24 (Bernama) -- Bureaucratic improvements through the Bureaucratic Reform Circular (RKB) can reduce costs in the implementation of a development project, said the Secretary-General of the Ministry of Economy, Datuk Nor Azmie Diron.
He said uncontrolled bureaucracy would result in increased costs for industry players, whether private or public.
"The government's function is to facilitate the implementation process within a reasonable period so that a project can be implemented within the specified period," he told Bernama after a forum session on the government's Two Years of MADANI (2TM) programme and the implementation of bureaucratic redundancy reform and testing rules.
The RKB is an initiative introduced by the Malaysian government to review and improve regulations and bureaucratic processes that burden businesses and citizens.
Dr Izhar Che Mee, an expert on good regulatory practices, said both the RKB and the testing rules will help modernise existing regulations and serve as a positive signal to both local and foreign companies on doing business in Malaysia.
He advised that if Malaysia hopes to become a digital hub, it would need comprehensive rule-testing involving all levels of government, such as ministries, agencies and statutory bodies. "That's why Singapore can become a fintech hub because it also created a sandbox, (where its function) is the same as rule-testing," he added.
-- BERNAMA
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