Malaysia’s Prime Minister Muhyiddin Yassin has just launched the MalaysiaBiz portal, which will serve as a one-stop centre to facilitate online business registrations and licensing applications.
He said the portal was developed by the Malaysian Administrative Modernisation and Management Planning Unit (MAMPU) with the goal of creating a trade-friendly environment to encourage competitiveness in the country and spur local economic growth.
“I urge entrepreneurs to take advantage of this opportunity. Do register and apply for your business licence through the MalaysiaBiz portal. Let us ensure the success of this initiative,” he said in his speech at the launch of the portal which was posted on the MAMPU Facebook page.
The prime minister also mentioned that the development of the portal was a result of a realisation of the importance of digital platforms and contributions from Malaysia’s SMEs to the national revenue.
According to the prime minister, SMEs contributed 38.9 percent to gross domestic product (GDP) in 2019 compared with 38.3 percent in 2018 and are targeted to contribute 45 percent to GDP by 2025 and 50 percent by 2030. With the growing trend of buying online which came as a result of the Covid-19 pandemic, SMEs have a prime opportunity to grow rapidly. Therefore, Muhyiddin insists that measures to generate SME growth should be given priority.
The prime minister added that the 2021 Budget tabled recently also showed that business continuity is one of the three main goals of the budget.
He said special attention was given to SMEs through fund assistance, training, digital equipment and grants, including an allocation of RM1 billion to boost digitalisation activities until 31 December 2023.
As for the portal itself, MalaysiaBiz is an online system that integrates 17 government agencies to enable traders to get services through one gateway.
The portal is part of efforts in sustaining public service delivery improvement in moving towards digital government, the result of a collaboration between MAMPU, the entrepreneur development and cooperatives ministry, and SME Corporation Malaysia.