The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) welcomes the recent remarks by Selangor State Executive Council Member, YB Tuan Ng Sze Han, in which he indicated that the Selangor state government is considering a review of business registration thresholds and regulatory frameworks for foreign businesses. YB Ng shared that the government intends to engage with chambers of commerce over the next one to two months to explore more targeted and effective countermeasures.
YB Ng acknowledged growing calls from the business community for enhanced regulatory oversight, particularly in response to rising concerns over disruptive practices by foreign businesses and their impact on the operating environment and competitiveness of local Micro, Small, and Medium Enterprises (MSMEs).
ACCCIM President Datuk Ng Yih Pyng, who also serves as President of the Kuala Lumpur and Selangor Chinese Chambers of Commerce and Industry (KLSCCCI), expressed hope that the Federal government will adopt a similar approach in reviewing regulations related to foreign business establishments. He emphasised the importance of striking a balanced approach between attracting foreign investment and safeguarding local business interests.
Datuk Ng Yih Pyng, together with President of the Klang Chinese Chamber of Commerce and Industry (KCCCI), Dato’ Jeffery Tan, stated that both chambers are ready to work collaboratively with the Selangor state government to offer constructive input and policy suggestions aimed at managing the influx of foreign businesses more effectively.
Their proposals include:
- Reviewing criteria for business license applications and approvals
- Assessing capital thresholds for business establishment
- Re-examining equity participation requirements
- Enhancing the enforcement of existing regulations
Both chambers reaffirmed their commitment to protecting the interests of local enterprises while supporting a fair, rules-based, and well-regulated business environment that allows sustainable growth for all stakeholders.
