Latest news with #ConsumerProtectionAct1999
Malaysian Reserve
9 hours ago
- Business
- Malaysian Reserve
Review of e-commerce laws to be completed by August
THE review of e-commerce legislation, which began in April last year to develop a more responsive legal framework for regulating the industry and protecting consumer interests, is expected to be completed by August. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali (picture) said the review is now in its final phase before the recommendations are submitted to the Cabinet for approval and subsequently tabled in Parliament for the drafting or amendment of relevant laws. He said the key laws under the ministry's jurisdiction include the Consumer Protection Act 1999 and the Electronic Commerce Act 2006. 'Our aim is to finalise the review by the end of this year, including securing Cabinet approval on whether to introduce a new legal framework or amend existing laws to make them more conducive, comprehensive, and relevant to current challenges,' he told reporters after launching the Sabah-level 2025 Business Digitalisation Programme at Universiti Malaysia Sabah today. Armizan added that the review also seeks to identify gaps in existing legislation, assess regulatory scope, and benchmark Malaysia's e-commerce laws against international practices He said the review also considers issues and needs of both the industry and consumers, and will propose new legislation or amendments along with the most effective regulatory approach for Malaysia's e-commerce landscape. 'At present, there is no direct regulation of platform operators or sellers in the e-commerce space. No decision has been made yet on whether to introduce a licensing regime or adopt a compliance-based approach. 'Our objective is not merely to establish a legal framework, but to create a regulatory mechanism that supports the growth of businesses using e-commerce platforms. We do not want future legislation to become a hindrance to the sector's potential,' he said. Armizan also announced that a townhall session with industry players will be held on July 17 to gather feedback and input on the proposed regulatory framework. He said several engagement sessions have already taken place, involving 63 entities from the public and private sectors, as well as industry representatives, in addition to surveys with e-commerce firms and users. 'All feedback obtained from these engagements and the review process will be thoroughly analysed and consolidated into comprehensive policy recommendations,' he said. Armizan noted that the e-commerce sector is projected to generate RM1.65 trillion in revenue this year. — BERNAMA
Barnama
10 hours ago
- Business
- Barnama
Review Of e-Commerce Laws To Be Completed By August
KOTA KINABALU, June 21 (Bernama) -- The review of e-commerce legislation, which began in April last year to develop a more responsive legal framework for regulating the industry and protecting consumer interests, is expected to be completed by August. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the review is now in its final phase before the recommendations are submitted to the Cabinet for approval and subsequently tabled in Parliament for the drafting or amendment of relevant laws. He said the key laws under the ministry's jurisdiction include the Consumer Protection Act 1999 and the Electronic Commerce Act 2006. 'Our aim is to finalise the review by the end of this year, including securing Cabinet approval on whether to introduce a new legal framework or amend existing laws to make them more conducive, comprehensive, and relevant to current challenges,' he told reporters after launching the Sabah-level 2025 Business Digitalisation Programme at Universiti Malaysia Sabah today. Armizan added that the review also seeks to identify gaps in existing legislation, assess regulatory scope, and benchmark Malaysia's e-commerce laws against international practices He said the review also considers issues and needs of both the industry and consumers, and will propose new legislation or amendments along with the most effective regulatory approach for Malaysia's e-commerce landscape. 'At present, there is no direct regulation of platform operators or sellers in the e-commerce space. No decision has been made yet on whether to introduce a licensing regime or adopt a compliance-based approach. 'Our objective is not merely to establish a legal framework, but to create a regulatory mechanism that supports the growth of businesses using e-commerce platforms. We do not want future legislation to become a hindrance to the sector's potential,' he said. Armizan also announced that a townhall session with industry players will be held on July 17 to gather feedback and input on the proposed regulatory framework.
The Sun
10 hours ago
- Business
- The Sun
E-commerce law review nears completion, final phase underway
KOTA KINABALU: The review of e-commerce legislation, which began in April last year to develop a more responsive legal framework for regulating the industry and protecting consumer interests, is expected to be completed by August. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the review is now in its final phase before the recommendations are submitted to the Cabinet for approval and subsequently tabled in Parliament for the drafting or amendment of relevant laws. He said the key laws under the ministry's jurisdiction include the Consumer Protection Act 1999 and the Electronic Commerce Act 2006. 'Our aim is to finalise the review by the end of this year, including securing Cabinet approval on whether to introduce a new legal framework or amend existing laws to make them more conducive, comprehensive, and relevant to current challenges,' he told reporters after launching the Sabah-level 2025 Business Digitalisation Programme at Universiti Malaysia Sabah today. Armizan added that the review also seeks to identify gaps in existing legislation, assess regulatory scope, and benchmark Malaysia's e-commerce laws against international practices He said the review also considers issues and needs of both the industry and consumers, and will propose new legislation or amendments along with the most effective regulatory approach for Malaysia's e-commerce landscape. 'At present, there is no direct regulation of platform operators or sellers in the e-commerce space. No decision has been made yet on whether to introduce a licensing regime or adopt a compliance-based approach. 'Our objective is not merely to establish a legal framework, but to create a regulatory mechanism that supports the growth of businesses using e-commerce platforms. We do not want future legislation to become a hindrance to the sector's potential,' he said. Armizan also announced that a townhall session with industry players will be held on July 17 to gather feedback and input on the proposed regulatory framework. He said several engagement sessions have already taken place, involving 63 entities from the public and private sectors, as well as industry representatives, in addition to surveys with e-commerce firms and users. 'All feedback obtained from these engagements and the review process will be thoroughly analysed and consolidated into comprehensive policy recommendations,' he said. Armizan noted that the e-commerce sector is projected to generate RM1.65 trillion in revenue this year.
The Sun
10 hours ago
- Business
- The Sun
Review of e-commerce laws to be completed by August
KOTA KINABALU: The review of e-commerce legislation, which began in April last year to develop a more responsive legal framework for regulating the industry and protecting consumer interests, is expected to be completed by August. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the review is now in its final phase before the recommendations are submitted to the Cabinet for approval and subsequently tabled in Parliament for the drafting or amendment of relevant laws. He said the key laws under the ministry's jurisdiction include the Consumer Protection Act 1999 and the Electronic Commerce Act 2006. 'Our aim is to finalise the review by the end of this year, including securing Cabinet approval on whether to introduce a new legal framework or amend existing laws to make them more conducive, comprehensive, and relevant to current challenges,' he told reporters after launching the Sabah-level 2025 Business Digitalisation Programme at Universiti Malaysia Sabah today. Armizan added that the review also seeks to identify gaps in existing legislation, assess regulatory scope, and benchmark Malaysia's e-commerce laws against international practices He said the review also considers issues and needs of both the industry and consumers, and will propose new legislation or amendments along with the most effective regulatory approach for Malaysia's e-commerce landscape. 'At present, there is no direct regulation of platform operators or sellers in the e-commerce space. No decision has been made yet on whether to introduce a licensing regime or adopt a compliance-based approach. 'Our objective is not merely to establish a legal framework, but to create a regulatory mechanism that supports the growth of businesses using e-commerce platforms. We do not want future legislation to become a hindrance to the sector's potential,' he said. Armizan also announced that a townhall session with industry players will be held on July 17 to gather feedback and input on the proposed regulatory framework. He said several engagement sessions have already taken place, involving 63 entities from the public and private sectors, as well as industry representatives, in addition to surveys with e-commerce firms and users. 'All feedback obtained from these engagements and the review process will be thoroughly analysed and consolidated into comprehensive policy recommendations,' he said. Armizan noted that the e-commerce sector is projected to generate RM1.65 trillion in revenue this year.
BusinessToday
10 hours ago
- Business
- BusinessToday
Malaysia To Finalise E-Commerce Law Review By August, Minister Says
Malaysia's review of its e-commerce legislation is entering its final phase and is expected to be completed by August, paving the way for more robust consumer protection and a modernised regulatory framework, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said. Launched in April 2023, the comprehensive review targets key laws such as the Consumer Protection Act 1999 and the Electronic Commerce Act 2006, aiming to make them more responsive to today's digital landscape. 'Our goal is to finalise the review by year-end, including obtaining Cabinet approval on whether to amend existing laws or introduce a new legal framework that is comprehensive and future-ready,' said Armizan. The initiative also benchmarks Malaysian legislation against international practices and addresses current gaps, especially the lack of direct regulation for platform operators and online sellers. While a licensing regime has not yet been decided, Armizan stressed the importance of balancing regulation with business growth. 'We want to ensure that any legal reforms support, not hinder, the continued expansion of Malaysia's e-commerce sector,' he added. A townhall session with industry stakeholders will be held on July 17 to gather further input. To date, 63 public and private sector entities have participated in consultations, supported by nationwide surveys. The urgency of the review is underscored by the sector's rapid growth, with Malaysia's e-commerce revenue projected to hit RM1.65 trillion in 2025, reinforcing its importance as a key economic driver. Related
