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

KUALA LUMPUR, Aug 20 — Prime Minister Datuk Seri Anwar Ibrahim has announced plans to fast-track the drafting of an e-commerce Bill to bolster the regulatory framework and ease of doing business in the sector, amid the rapid expansion of digital commerce. The government aims to ensure the orderly development of the e-commerce ecosystem while providing greater convenience and protection for all stakeholders, including young people and new entrepreneurs.

The current Electronic Commerce Act, enacted in 2006, is being replaced by the new e-commerce Bill. Anwar, who is also Finance Minister, emphasized the need for the legislation to be expedited to cater to industry players' requirements and offer enhanced security and protection for those involved in digital commerce.

Anwar highlighted the potential of technology and e-commerce platforms to create opportunities for young people with limited capital and experience. However, he stressed the importance of maintaining ethical values and preventing misuse of platforms by irresponsible parties. The Madani Government is open to receiving input from industry players and adjusting policies to ensure the orderly development of new technologies.

The government is also prepared to provide support to small businesses and new entrepreneurs through various agencies and financing facilities. Anwar urged new entrepreneurs to seize opportunities, regardless of their lack of business experience, and assured that assistance would be available to them during challenging times.