PUTRAJAYA: The national Authorised Economic Operator (AEO) programme will be able to boost economic growth, attract quality investments and increase the efficiency in tax revenue collection for the government, said the Royal Malaysian Customs Department (RMCD) director-general Datuk Seri Abdul Latif Abdul Kadir.
He said the department, which has been trusted by the government to implement the National AEO programme, will always strive and be committed to continuously increase collaboration with all parties involved in the programme to make it a success.
"It is hoped that all planning and efforts of 43 Regulatory Authorities from ministries, departments and agencies that are involved in the programme are able to implement it successfully and achieve the outcome that has been set," he said in a statement after chairing the virtual National AEO Programme committee meeting today.
Abdul Kadir said the meeting today discussed various issues including the direction as well as the formation of a task committee to ensure the National AEO programme proceeds smoothly.
According to him, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in his address to officiate the meeting hoped all parties involved in the National AEO Programme could cooperate in harmonising goods clearance so that the set objective can be achieved.
On Nov 6 last year, Tengku Zafrul through Budget 2021 announced that the government would implement the AEO Programme at the national level encompassing goods that are subjected to licence or permit issued by 43 Regulatory Authority Other Government Agencies and Permit Issuance Agencies.
Besides that, the AEO accreditation process has been simplified and broadened to logistics services suppliers and warehouse operators who act on behalf of importers, exporters and manufacturers approved by AEO.
The National AEO Programme aims to facilitate the goods clearance mechanism through integrated trade facilitation, cultivate a more transparent corporate governance among stakeholders, and ensure payment of duties and taxes are collected more accurately to increase government revenue.
The AEO Programme was introduced by the World Customs Organisation (WCO) since 2005 and had been implemented by the RMCD since 2010.
AEO is an operator who has obtained approval from or on behalf of Customs after being confirmed to be compliant with the supply chain safety standards under WCO SAFE Framework of Standards to Secure and Facilitate Global Trade which covers manufacturers, exporters, broker carriers, consolidators, and intermediaries.
-- BERNAMA
Bernama
Tue Mar 02 2021
Abdul Kadir said the meeting today discussed various issues including the direction as well as the formation of a task committee to ensure the National AEO programme proceeds smoothly. Image via Facebook@Jabatan Kastam Diraja Malaysia
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.