- Provide a platform to assist the Target Group by providing guidance and preliminary information in relation to queries pertaining to business regulations;
- Create awareness on the regulations that need to be complied with by the Target Group in relation to operating a business;
- Improve compliance towards business regulations by the Target Group;
- Identify issues faced by the Target Group (that comes from various industry) pertaining to business regulations and assist in identifying the regulatory burdens imposed on them; and
- Spur industry reform with regulators through common issues raised in relation to business regulations.
- BR-VAC provides guidance and responses to queries from industry players. An initiative aimed to ensure better understanding of types of regulations to comply, who is the regulators and what the procedures involved. BR-VAC helps to minimize unnecessary regulatory burdens in doing business and ways of complying the regulation. It offers exclusive one-to-one virtual session with the industry experts. BR-VAC is open to all industry players and free of charge.
- For a common VAC session, proposed topics will be in relation to the life-cycle of a business which starts from its incorporation to its winding-up. However, given the COVID-19 pandemic and current issues affecting businesses during the ensuring movement control order (MCO), proposed topics will be based on COVID-19 and MCO related legal issues.
- Affected industry players are able to get legal and regulatory information especially to protect businesses during the pandemic of COVID-19
- Industry players manage to plan and prepare for precaution measure in terms of business issues such as Contractual Obligations, Employment Matters, Tenancy, Construction, Bankruptcy/Insolvency and etc
- Industry players will get exclusive one to one session with resource person to acquire better understanding for related queries.