#MYMUDAH INITIATIVE EXPANDED TO FACILITATE DELIVERY OF 5,000 START-UPS AS TARGETED IN MALAYSIA DIGIT

PETALING JAYA, July 8 (Bernama) -- 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). Start-up companies are strongly urged to register regulatory challenges impeding their business growth at http://mymudah.mpc.gov.my/. 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.

#MyMudah 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%, followed by the construction industry at 23.6%. Issues registered from the agriculture industry are currently at 8.2%, whereas from the manufacturing and mining & quarrying sectors are at 5.1% and 1.1% respectively.

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. Through #MyMudah, MPC also hopes to uncover the extent of the unnecessary regulatory burden faced by the existing technology-based businesses.

Dato’ Abdul Latif Haji Abu Seman, MPC Director General 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 face in navigating through regulatory process in managing your operation”.

“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 enable us to address the issues and design interventions more effectively and accurately”.

Start-up companies may register their regulatory concerns at http://mymudah.mpc.gov.my/. Companies can share in detail the issues faced and propose possible solutions to the challenges. Through #MyMudah portal, companies are also required to share information on the specific act, regulation, or guidelines which are burdensome for them to grow faster.

Source:Malaysia Productivity Corporation (MPC)

FOR MORE INFORMATION, PLEASE CONTACT:

Name: Nik Haneez Amizan Nik Rosdi

Tel:+6019-7181804

Email: nikhaneez@mpc.gov.my

--BERNAMA