KUALA LUMPUR, May 28 (Bernama) -- The government is committed, over the next two to three years, to reduce the numbers of licences required to operate a business in Malaysia.
This was to ensure the country becomes more open for business, improve productivity and competitiveness, said Deputy Finance Minister Datuk Donald Lim Siang Chai.
Speaking to reporters after launching Malaysian Financial Planning Council (MFPC)'s Registered Financial Planner (RFP) Capstone Programme here today, he said productivity was valued at RM15,000 per person, per year, in Malaysia, which was far off when compared with the American value of RM103,000 per person, per year.
Lim said the government's commitment followed the outcome of the 11th National SME Development Council Meeting, chaired by Prime Minister Datuk Seri Najib Tun Razak, two weeks ago.
At the meeting, Najib assured that the government would relax all requirements for the issuance of licences and permits to small-and-medium enterprises (SMEs).
This followed an analysis by the World Bank which revealed that SMEs still required too many licences and permits to run their businesses.
"The Chief Secretary to the Government, who is also Chairman of the Special Taskforce to Facilitate Business (Pemudah) has directed it to engage with the private sector and submit proposals to the government.
"I think the directive is coming down and is good for the country," Lim said, adding that all sectors should participate and give feedback to the government on licensing issues.
He also suggested that companies or businesses that were established and good tax payers should have their licences renewed once in three years instead of annually.
Lim pointed out to the success of the Immigration Department, which had successfully cut the time required to issue new passports from two weeks, previously, to one hour now.
On the RFP Capstone Programme, Lim said it was a fast track programme for those seeking to attain the prestigious RFP designation and to advance in careers as professional financial planners.
In conjunction with the launching, MFPC also launched a book entitled "Readings of Financial Plans and Shariah Wealth Management".
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