Improving Investment Climate
- Streamlining of licensing procedures with a view to provide an enabling investment climate;
- The Registrar of Companies to be the single point of entry for all business start ups in non-regulated activities. Payment of trade fees will be effected at the Registrar of Companies at the time of registration;
- To enable the Registrar of Companies to become paperless, a scanning technology that would capture data from the standard forms and supporting documents will be implemented;
- Applications in relation to Building and Land Use Permits to be submitted on line to CEB and CWA. The E-regulations platform will be extended to all Ministries;
- Implement an on-line submission and e-payment of Notarial deeds
- Extend the E-Payment system to all businesses as well as population;
- Modernization of the Judiciary and implementation of e-filing and case management system. A Mediation Division will be set up in the Supreme Court where all commercial cases will be dealt with first before going to full trial. Commercial disputes, where applicable, will be settled within a time frame of 100 days.
- To further open up the economy to foreign talents, the threshold for professional has been revised from Rs 75, 000 to Rs 45, 000.
- For professional in the Academic staff, BOI will issue Occupation Permit regardless of the income level