Malaysia To Get Rid Of Excess Bureaucracy To Attract Foreign Companies - Minister

Malaysia to Get Rid of Excess Bureaucracy to Attract Foreign Companies - Minister

The Malaysian Ministry of Domestic Trade and Living Costs will get rid of excess bureaucracy in order to help international companies conduct business activities in the country, Minister of Domestic Trade Datuk Seri Salahuddin Ayub said on Wednesday

MOSCOW (Pakistan Point News / Sputnik - 18th January, 2023) The Malaysian Ministry of Domestic Trade and Living Costs will get rid of excess bureaucracy in order to help international companies conduct business activities in the country, Minister of Domestic Trade Datuk Seri Salahuddin Ayub said on Wednesday.

"We will reduce bureaucracy issues so that those seeking approval (to open a business) are comfortable and this will lead to better economic growth," the minister was quoted as saying by local news portal Star.

He added that his department's efforts aimed to make Malaysia one of the main destinations for foreign investment in the region.

In 2022, Malaysia approved a total of 360 applications from foreign companies to open businesses in the country, with the largest number of applications being in the food and beverage sector.