KUALA LUMPUR, April 25 — The government will refine the proposals forwarded by the National Chamber of Commerce and Industry of Malaysia aimed especially at strengthening domestic direct investment , the most important element to revive the economy, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
The Economic Planning Unit of the Prime Minister’s Department, the Finance Ministry, and the International Trade and Industry Ministry will refine the proposals, he said. Other proposals from NCCIM include conducting studies on initiatives to reduce bureaucratic constraints by 50 per cent; perform consolidation and coordination of investment incentives; re-engineering foreign labour management processes as well as preparing action plans to expand the network of small and medium enterprises with foreign direct investment .
“OSC 3.0 Plus is a complete and uniform procedure based on current laws to regulate and facilitate the development process in local authority areas until the building is eligible to be occupied using fully digital applications in all 98 local authorities in Peninsular Malaysia,” he said.