‘Anti-Ali Baba’ bill to be tabled next year, says minister
Malaysia's economy minister announced that a bill to combat "Ali Baba" (rent-seeking) practices, which involve illegal transfer of licenses and contracts, is expected to be tabled in Parliament by 2027. The ministry is studying options for a regulatory framework, including defining these practices as criminal offenses, as current laws are insufficient.
Why it matters
This legislation aims to improve market efficiency and national productivity by curbing corrupt practices that undermine fair competition and economic development in Malaysia. It signifies a government effort to address long-standing issues of illicit business transfers.
Economy minister Akmal Nasir told the Dewan Rakyat that various options are being examined with stakeholders to ensure the proposed measures under the new anti-rent seeking law have an effective deterrent effect. (Bernama pic)
KUALA LUMPUR: A bill to curb rent-seeking or "Ali Baba" practices is expected to be tabled in Parliament by 2027, according to economy minister Akmal Nasrullah Nasir.
He said a study by the ministry found that existing legal provisions, including local authority by-laws, were limited in scope and unable to curb the illegal transfer of licences and contracts to foreigners.
"The economy ministry is conducting a study to develop a regulatory framework and relevant legislative proposals to address rent-seeking or 'Ali Baba' practices, which can undermine market efficiency and national productivity.
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