Is another commission really necessary?
Focus Malaysia | 05 Oct 2018 00:30
The recent suggestion by Communications and Multimedia Minister Gobind Singh Deo for a commission to oversee the start-up and venture capital industry needs further analysis to see if it is indeed necessary. According to reports quoting the minister, the new commission is to “further develop and regulate” the sector.
The rationale for the new commission, says the minister, is that there are “so many people and different groups managing different parts of the problems in this sector”. This is indeed true. But is setting up a commission to provide an oversight the solution?
For one thing, government commissions usually introduce more bureaucratic procedures. Private venture capital players may find themselves having to deal with over-regulation.
Secondly, setting up a commission will incur costs. At a time when the government is trying hard to be frugal and prudent in its expenses, the timing of the new commission is questionable.
Download and read the latest issue of Focus Malaysia here: