Regional Economic Partnership Elevated at ASEAN-GCC-China Summit Signals a Fresh Chapter
Customs System Upgrade in Malaysia Boosts Trade Efficiency and Border Management
KUALA LUMPUR, May 27 - Enhancing trade operations and improving border management, Malaysia has modernized its customs documentation platform into a fully digital system. The new Malaysian Customs Import Export Document System (MyCIEDS) serves to streamline the handling of import and export documents, aiming to increase trade efficiency and boost national competitiveness.
The MyCIEDS platform employs advanced Document Management System (DMS) technology for seamless integration with the Customs Information System (SMK). This collaboration has enabled a more integrated, document-based approach for managing customs documentation, ensuring quicker and more accurate monitoring, storage, and access.
Launched under the Industrial Collaboration Programme (ICP), this enhancement is not only a fulfillment of procurement obligations but also a stepping stone for technology transfer, local expertise development, and long-term value creation in the country. The Technology Depository Agency Berhad (TDA), under the Ministry of Finance, oversaw the implementation of the new system.
Dr Sharoul Jambari, TDA's Chief Executive Officer, highlights the benefits, expressing confidence in the system's long-lasting impact on the economy and local industry ecosystem. He emphasizes, "ICP, through this approach, can ensure a lasting impact on the economy and the local industry ecosystem."
The upgraded system is projected to expedite customs clearance across the country and enhance Malaysia's competitive edge in global trade. Currently, ICP projects have played a crucial role in driving income growth, productivity, and job creation in key sectors within Malaysia.
In summary, the new MyCIEDS system brings multiple advantages, including enhanced efficiency, improved border management, increased transparency, and technology transfer. The digitization of customs documents is expected to boost trade efficiency, strengthen border management, foster economic growth, and create job opportunities and business prospects.
- The upgrade of the customs system in Malaysia, known as MyCIEDS, is projected to strengthen Malaysia's competitive edge in global finance and business, particularly trade.
- The Technology Depository Agency Berhad (TDA), a subsidiary of the Malaysian Ministry of Finance, played a significant role in the implementation of the new MyCIEDS digital system, aiming to enhance the economy and local industry ecosystem.
- The digitization of customs documents in Malaysia, through initiatives like the MyCIEDS platform, could result in increased transparency and efficiency, creating opportunities for Kuala Lumpur's tech and finance sectors.
- Built upon advanced Document Management System (DMS) technology, the MyCIEDS system has streamlined customs documentation handling, providing benefits such as quicker and more accurate monitoring, storage, and access, for finance, business, and technology sectors in Malaysia.
