Malaysia to establish base for sports industry development

The Malaysian government plans to establish a Sports Industry Center of Excellence in collaboration with selected higher education institutions (HEIs) to develop the domestic sports industry.

This was reflected in the 12th Malaysia Plan (12MP) Mid-term Review (MTR) released by the Ministry of Economy on September 11, 2023.

This hub will serve as a reference center for providing knowledge and conducting research in various areas of the Southeast Asian country’s sports industry.

“The center will work with stakeholders to identify new ideas, knowledge and innovations related to sport,” the interim review report said.

He said a centralized database on the sports industry will also be established to facilitate informed decision-making in advancing the development of the sports industry.

“The database provides information on sports products, employment, consumer spending, etc. This will facilitate better planning in the development of the sports industry,” the report says.

MTR said that optimizing the potential of the sports industry will intensify its efforts to expand the sports industry value chain, including event management services, journalism, broadcasting and sports coaching.

The report added that sports-related tax incentives will also be reviewed to encourage the involvement of the private sector and local communities in sports development.

sauce: The Sun (Malaysia)

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