KUALA LUMPUR – A special task force will be set up next month to review and strengthen the country’s laws concerning investment and business, said Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.
“We will look into laws involving big businesses and online trade, sale and purchase contracts, and trade, including (countering) scammers. The laws of many countries in Asean like Indonesia and Thailand have changed. So we will look into this,” she said.
Azalina said it is important to empower the country’s laws to help realise the unity government’s agenda of developing the country under the Madani Economy framework.
She said apart from good governance, a well functioning legal framework can give confidence to investors to invest in the country.
Azalina said this today when speaking on RTM’s Selamat Pagi Malaysia programme titled Tatakelola Baik Asas Ekonomi Madani (Good Governance the Basis of Madani Economy).
“This special task force will also study issues related to artificial intelligence involving technology fraud and whether we are prepared to manage businesses in this field,” she said.
The Madani Economy framework was launched by Prime Minister Datuk Seri Anwar Ibrahim last week to boost Malaysia’s economy and generate benefits for the people to enjoy a better quality of life.
Azalina said the task force would work together with local universities and related agencies to conduct studies and the review.
She is confident that if everything proceeds smoothly, the task force’s proposal on legal amendments and enhancements could be tabled in next year’s Parliament session.
Azalina said investors would feel more confident and safer if the country’s laws could offer all quarters adequate protection without either favouring or marginalising anyone.
“Given the country’s peace and security and leaders who are now seen as capable of protecting them with good governance without issues like ‘back payments’, investors will come to Malaysia,” she added. – Bernama, August 3, 2023
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