Dr M plans one-stop-centre to cut red tape, spur FDIs

In an effort to attract more foreign direct investments, including Chinese investments, Tun Dr Mahathir Mohamad is planning to set up a one-stop-centre to cut through red tape

In an effort to attract more foreign direct investments, including Chinese investments, Tun Dr Mahathir Mohamad is planning to set up a one-stop-centre to cut through red tape.

This one-stop centre is also to ease the process of obtaining investment approvals.

“If we can ease the approval process for investments, the investments will come pouring in [to Malaysia],” said the prime minister today, adding that he hopes the one-stop-centre will be established as soon as possible.

He was speaking at a press briefing here on conclusion of his five-day official visit to China to attend the Second Belt & Road Forum. He is due to fly home today.

He said foreign investors have highlighted that they now have to go through about 20 offices located in different places when they need to secure approval for their investments, making the procedure a time-consuming process.

“The one-stop-centre will be effective only with an authority that can make decisions there, which will the quicken the process,” Dr Mahathir added.

Source: The Edge Markets

Posted on : 28 April 2019
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Last Updated : Wednesday 21st August 2019