Malaysia aims to finalise new e-commerce Bill this year, says domestic trade minister

Batul Kawan, September 19 - The Malaysian government plans to finalize the new e-commerce Bill this year, announced Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali. The ministry has already endorsed the policy decision to abolish the Electronic Commerce Act 2006 and replace it with a more comprehensive law. However, the process will demand coordination between multiple ministries and extensive collaboration with stakeholders, including e-commerce companies, service providers, and industry players.

Armizan acknowledged the broad and intricate nature of e-commerce, emphasizing the necessity for thorough examination. He expressed hope for the Bill's completion during the year. Two committees have been established to hasten the drafting process, tasked with coordinating between the ministry and the Ministries of Communications and Digital. They are also refining the allocation of responsibilities among relevant agencies and the regulatory mechanisms for e-commerce platforms.

The subsequent phase will necessitate a regulatory impact assessment (RIA) conducted in collaboration with the Malaysia Productivity Corporation (MPC), prior to the bill's submission for further deliberation. Proposed measures include establishing a licensing regime for e-commerce platforms, considering the increasing volume of overseas goods, consumer safety, and the sustainability of micro, small, and medium enterprises (MSMEs).

Nevertheless, Armizan stressed the importance of maintaining a balanced approach to regulation, avoiding hindrance to e-commerce growth which benefits consumers and generates income for traders.

Previously, the government had committed to expediting the e-commerce Bill's drafting to enhance regulations and accountability for platforms, sellers, and consumers. The Electronic Commerce Act 2006 lacked a comprehensive legal framework to govern various facets of e-commerce.