The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) welcomes Selangor State Executive Council Member, YB Tuan Ng Sze Han’s press interviews’ commentaries that Selangor state government may review the business registration threshold and regulatory requirements for foreign businesses. The state government plans to engage with the chambers of commerce within the next one to two months to explore more targeted and effective countermeasures.

YB Ng said that the business community has called on the government to strengthen supervision to safeguard the operating environment and competitiveness of local enterprises in response to the businesses’ concerned about disruptive practices by foreign businesses.

ACCCIM President Datuk Ng Yih Pyng, who is also the President of KLSCCCI is hopeful that the Federal government would consider to take a similar stance on a review of regulations for foreign business establishment, aiming at striking a balance between attracting investment and protecting local interests.

Datuk Ng Yih Pyng, and President of KCCCI, Dato’ Jeffery Tan, said that both chambers are ready to work with the Selangor state government to provide constructive inputs and policy recommendations to address the influx of foreign business activities. These include review the criteria for business license applications and approvals, capital threshold for the establishment of business, equity participation as well as enhance the enforcement of regulations.

The chambers remain committed to safeguarding the interests of local enterprises while supporting a fair and rules-based business environment.