KUALA LUMPUR The Malaysia Convention and Exhibition Bureau (MyCEB) has secured US$16 million in annual funding for 2011 and 2012.
The funding boost was announced by the Minister of Tourism YB Dato’ Sri Dr Ng Yen Yen before MyCEB’s inaugural Industry Briefing on Monday.
Funds will be split evenly between operational expenses and a new subvention programme aimed at attracting and generating conventions in key industries. The bureau wants to increase business tourism arrivals from 1.2 million to 2.9 million by 2020.
“The subvention programme focuses on supporting bids for very targeted international business events that offer high economic benefits to the nation,” said MyCEB CEO Zulkefli Sharif. “Support given will be based on an economic assessment, the agreed performance criteria as well as mutual benefits for the government and the local host organisation.”
The subvention programme offers financial and non-financial incentives to MICE groups spending a minimum of 1,000 room nights in Malaysia with an international delegate ratio of at least 20%.
International corporate meetings and incentive groups will be eligible for assistance through the Event Support Programme, the details of which will be released in December.
It is not necessary for the event to have a local partner in order to receive assistance.
The news was welcomed by the private sector. KLCC Convention Centre general manager Peter Brokenshire, said: “This milestone bodes well for the industry as not only will it make Malaysia more competitive globally, but also facilitate the delivery of more international and regional associations meetings to the country. Without a doubt, the subvention fund will help to achieve the government’s business tourism objectives.”