Business registration reduced to one day via online

KUALA LUMPUR: Those who want to set up businesses can now simultaneously register with five government agencies online and complete the process within a day compared to 11 days previously.

The Malaysia Corporate Identity Number or MyCoID’s gateway system which was launched yesterday would also see information being transferred electronically without requiring a person to physically head to the five government agencies to register their business as is the current practice.

Prime Minister Datuk Seri Najib Tun Razak said the implementation of the MyCoID gateway system would help boost the country’s competitiveness globally, improve the delivery system and reduce the number of processes from nine to one.

“The concept is easy, quick and effective. Registration with various agencies is done through a one-touch point,” said Najib, whose speech was read out by Domestic Trade, Cooperatives and Consu?merism Minister Datuk Seri Ismail Sabri Yaakob.

Najib said the system would also help improve Malaysia’s ranking with the World Bank’s “Doing Business” category from the current 23rd spot to 17 by next year.

On the price of RON97 petrol, Ismail said: “There is no reason for the people to panic or worry as over 90% of motorists use RON95 which is still at RM1.85 per litre,” he said yesterday after launching the Malay?sia Corporate Identity Number or MyCoID’s second phase gateway system.

Ismail Sabri was commenting on the increase of RON97 petrol by 5 sen to RM2.15 per litre effective on Tuesday.

He also said the RON97 pricing would change every first of the month with oil companies having the option to increase the full amount or absorb some of the cost to create a healthy battle with their competitors.

On whether the prices of RON95 would be increased, Ismail Sabri said he did not expect it to increase this year, adding that such decisions were subject to Cabinet approval.

http://thestar.com.my/news/story.asp?file=/2010/11/4/nation/7359289&sec=nation