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Good Regulatory Practices (GRP) is a systematic application of rules, principles, and procedures that governments can utilize to ensure effective, transparent, inclusive regulatory outcomes. It is designed to improve the quality of laws and regulations to create a regulatory environment conducive to economic growth and sustainable development.
In a bid to bolster labor productivity and achieve the vision of becoming a developed nation by 2045, the Vietnamese government is exploring the adoption of GRP. Malaysia is a successful example, which has experienced significant economic growth in a more business-friendly environment since it started implementing GRP in 2010. To facilitate the exchange of knowledge and best practices in GRP adoption and related productivity improvement initiatives, an individual-country observational study mission (IOSM) on Productivity Improvement through GRP was hosted by the Malaysia Productivity Corporation (MPC) in Kuala Lumpur, 20–22 June.
Six delegates from Vietnam took part in the mission, where they engaged with two local resource persons and visited a company under the Agro-food Productivity Nexus initiative, ABS Greentech Sdn. Bhd., to observe GRP principles in action. The program included an overview of Malaysia’s productivity, GRP framework, and case studies of regulatory improvement. Key productivity drivers such as technology adoption and digitalization were also discussed as well as future GRP collaborations between Malaysia and Vietnam.
This IOSM was a timely follow-up in supporting the government to leverage global best practices for its 2045 vision. The mission aligned with recommendations from the Institutional Capacity Development Plan for the Directorate of Standards, Methodology, and Quality (STAMEQ), the agency responsible for the national productivity movement in Vietnam.