Kuala Lumpur:The Malaysia Productivity Corporation (MPC) plans to reinforce the implementation of Good Regulatory Practice (GRP) to help Malaysia achieve its goal of ranking among the top 12 nations in the International Institute for Management Development (IMD) World Competitiveness Ranking.

According to BERNAMA News Agency, MPC director-general Dr. Mohamad Norjayadi Tamam emphasized that quality regulations are crucial for enhancing business and investor confidence, accelerating investment realization, and fostering the growth of micro, small, and medium enterprises (MSMEs). Malaysia's recent rise to 15th place in the IMD World Competitiveness Ranking 2026 indicates that reforms are producing results, but continuous efforts are needed to reach the top 12.

MPC welcomed the allocation of nearly RM25 million to the Special Task Force for Agency Reform (STAR) under Budget 2027 to expedite government interactions with the public and business sector. The implementation of the Government Service Efficiency Commitment Act is also expected to enhance public service delivery.

As the leading agency for GRP and the secretariat of the Special Task Force to Facilitate Business (PEMUDAH), MPC will focus on strengthening GRP and Regulatory Impact Analysis (RIA) across ministries and agencies. This includes periodic reviews of existing regulations.

Additionally, MPC will support the Bureaucratic Red Tape Reform (RKB) initiative and the Government Service Efficiency Commitment Act by regularly measuring and reporting savings in business compliance costs. This will help assess the impact of reforms on the business sector.

MPC will collaborate with PEMUDAH to identify and resolve regulatory barriers that hinder business operations and the execution of approved investments. Their efforts will also encompass risk-based licensing reforms, process digitalization, and providing expertise to review regulations and identify outdated laws, ensuring that Malaysia's regulatory environment remains agile, transparent, and business-friendly, in line with the MADANI Economic Framework.