Laws To Help Make Malaysia More Business-Friendly - Minister Hamzah

PUTRAJAYA (Malaysia), Aug 24 (Bernama) -- The new Companies Act and Interest Schemes Act, which are expected to be enforced from Jan 1 next year, will help make Malaysia become more business-friendly. Malaysian Minister of Domestic Trade, Cooperatives and Consumerism, Hamzah Zainudin, said the Bills, which were passed by Dewan Rakyat (Lower House of Parliament) and Dewan Negara (Malaysian Senate) in April, were now in advocacy stage to help stakeholders understand them when they were implemented. "The improvements of the Bills and their approvals are expected to support and improve the country's international rating as reported in the World Bank's reports on 'Doing Business' and 'Observance of Standards and Codes'. "Malaysia is 18th among 189 economies in the 2016 World Bank's 'Ease of Doing Business' ranking and I believed this can be improved to among the top ten next year following the introduction of the Bills," he said on Tuesday. He said the Bills will give foreign investors the confidence to register their businesses to Malaysia. --BERNAMA