Pahang plans to expand Fast 8 initiative to expedite investment permit approval

Pahang plans to expand Fast 8 initiative to expedite investment permit approval

27 Aug 2024

The Pahang government is considering expanding the Fast 8 (F8) initiative, which accelerates the approval of high-impact investment project permits from 24 months to eight months.

This initiative, originally introduced by the Kuantan City Council, is proposed to be extended to other local authorities in the state.

State Local Government, Housing, Environment and Green Technology Committee chairman, Datuk Mohammad Fakhruddin Mohd Ariff said this effort is also part of a broader move to facilitate business management and improve existing systems and procedures.

“Efforts to enhance business processes have been carried out with dedication, including the establishment of the Ease of Doing Business (EODB) Committee chaired by the State Secretary (Datuk Seri Zulkifli Yaacob).

“We understand that the business world is increasingly challenging, and a state’s ability to streamline business processes is crucial in attracting investors and ensuring continuous economic growth,“ he said when opening the EODB Planning Clinic organised by PlanMalaysia Pahang here today, which was attended by over 200 participants including developers, consultants and stakeholders..

Meanwhile, Mohammad Fakhruddin noted that Pahang is one of the top-performing states, ranked second nationally for facilitating the development permit process according to the Doing Business in Malaysia 2020 report.

“However, we cannot be complacent with this achievement. We must continue striving to improve our ranking over time and remain responsive to the needs and expectations of investors and entrepreneurs,“ he said.

Source: Bernama