Malaysia to streamline business licensing and boost online services, says Minister Hannah Yeoh
Minister Hannah Yeoh announced a review of procedures to move all business applications online and cut unnecessary steps, aiming to reduce costs and curb corruption.
Speaking at the Malaysia Retail Chain Association's 34th anniversary celebration, Minister Hannah Yeoh outlined a government review aimed at fully digitising business applications to save time and money for entrepreneurs. The plan includes removing superfluous procedures to lessen administrative burdens and limit corruption opportunities. Recent steps include allowing eligible Kuala Lumpur City Hall licences to be renewed for up to three years and cutting concert deposit costs by 70 percent.
Yeoh called on physical retailers to transform shopping centres into vibrant community spaces offering food, culture and entertainment, and advised traditional firms to recruit younger talent to support digitalisation. She stressed that these measures are intended to help businesses adapt to online competition and evolving consumer habits.
Why it matters
Simplifying licensing and boosting digital services can lower costs for Malaysian businesses and improve transparency.
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