Anwar: Govt fast‑tracking drafting of new e‑commerce Bill

KUALA LUMPUR, Aug 20 — The Malaysian government is moving swiftly to draft a new e-commerce Bill to strengthen regulations and enhance the ease of doing business in the digital commerce sector, according to Prime Minister Datuk Seri Anwar Ibrahim. This initiative aims to ensure the orderly growth of the e-commerce ecosystem while safeguarding the interests of all stakeholders, including young entrepreneurs and newcomers to the industry.

Anwar clarified that while the Electronic Commerce Act was enacted in 2006, the new legislation is being drafted to better serve the sector's needs. The bill's expedited progress is crucial to meet the demands of industry participants and to provide enhanced security and protection for those involved in digital commerce.

Anwar emphasized that the rapid advancement of technology and e-commerce platforms has opened up new business opportunities, particularly for young Malaysians with limited capital and experience. He stressed the government's commitment to supporting legitimate businesses while preventing the misuse of platforms by irresponsible entities.

To achieve this balance, Anwar stressed the importance of ethical guidelines for businesses, stating that while profit is crucial, moral and ethical values are equally important in the realm of commerce.

The Prime Minister affirmed that the government remains receptive to input from industry stakeholders and is prepared to adjust policies to ensure the responsible development of new technologies. Additionally, the government is willing to provide support through various agencies and financing mechanisms to assist small businesses and those in the initial stages of their entrepreneurial journey.

Anwar expressed confidence that by offering opportunities to new entrepreneurs, regardless of their prior business experience, the government can help ensure that the benefits of digital economic growth are widely shared, especially among younger Malaysians with innovative ideas and the potential to become successful business leaders.