Hannah Yeoh: 8,000 KL businesses renew licences in two months under streamlined system
Kuala Lumpur has successfully implemented a new multi-year business license renewal system, with 8,000 businesses participating in the first two months. The initiative offers discounts for two and three-year renewals to reduce administrative burdens on business owners.
Why it matters
Streamlining government bureaucracy is a key metric for improving the ease of doing business and supporting local economic growth.
PETALING JAYA, Oct 3 — A total of 8,000 businesses in Kuala Lumpur renewed their business licences within two months after a new multi-year renewal initiative was introduced in July.
Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh said 704 businesses opted for a two-year renewal, while 1,802 businesses renewed their licences for three years.
“I am happy to share that in just two months, 8,000 businesses in Kuala Lumpur renewed their licences for one year. For a two-year renewal, they receive a five per cent discount, which 704 businesses have opted for, while 1,802 businesses chose a three-year renewal to enjoy a 10 per cent discount on their business licence,” she said.
She said this at The Kuala Lumpur and Selangor Chinese Chamber of Commerce and Industry (KLSCCCI) 122nd Anniversary Dinner here last night, themed ‘Connecting Businesses, Shaping Tomorrow’.
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