Malaysian Finance Ministry Boosts Funding for Tourism Sector in Preparation for Asean Chairmanship and VMY 2026
The Ministry of Finance (MOF) in Malaysia is gearing up to increase funding for the tourism sector as the country prepares to take on the role of Asean Chair in 2025 and host Visit Malaysia Year 2026. Finance Minister II, Senator Datuk Seri Amir Hamzah Azizan, emphasized the importance of allocating adequate funds to the tourism industry to leverage Malaysia’s position on the global stage.
In a recent meeting with Terengganu tourism stakeholders to discuss the 2025 Budget, Minister Amir Hamzah highlighted the significant opportunity for Malaysia to showcase its tourism sector during its Asean chairmanship. He emphasized the rapid revenue generation potential of the tourism industry and the need to capitalize on positive trends as Malaysia anticipates welcoming more tourists post-Covid-19 pandemic.
Enhancing Infrastructure and Skills Development for Tourism Growth
As Malaysia gears up for Visit Malaysia Year 2026, Minister Amir Hamzah outlined key focus areas to boost the tourism sector. One of the priorities identified is the improvement or maintenance of infrastructure across the country to enhance the comfort and experience of tourists. By identifying and upgrading priority areas, Malaysia aims to attract more visitors and provide a seamless travel experience.
Moreover, there have been suggestions to support industry stakeholders through incentives and skill development initiatives. These could include training programs for tour guides and other tourism professionals to enhance service quality and cater to the diverse needs of tourists. Minister Amir Hamzah expressed the government’s commitment to exploring these suggestions in collaboration with the Ministry of Tourism, Arts, and Culture to bolster the tourism sector’s capabilities.
Customized Financing Infrastructure for Tourism Sector Stakeholders
During MOF’s engagement sessions with industry players, stakeholders highlighted the importance of tailored financing infrastructure for the tourism sector. Minister Amir Hamzah acknowledged these requests and emphasized the need to address the specific financial needs of tourism stakeholders to support their growth and sustainability. By customizing financing solutions, Malaysia aims to empower industry players to invest in infrastructure development, skills enhancement, and service quality improvement.
The Budget 2025 roadshow organized by MOF aims to gather comprehensive feedback from industry stakeholders to shape a focused budget that will strengthen the national economy. By incorporating insights and recommendations from the tourism sector, Malaysia seeks to create a sustainable and competitive environment for tourism growth and development.
In conclusion, the Malaysian Finance Ministry’s commitment to increasing funding for the tourism sector in preparation for Asean Chairmanship and Visit Malaysia Year 2026 reflects the government’s strategic vision to position Malaysia as a leading tourism destination. By focusing on infrastructure enhancement, skills development, and customized financing solutions, Malaysia aims to elevate its tourism industry and drive economic growth through sustainable tourism practices.