As part of Malaysia's Economic Transformation Programme (ETP) and in line with the Ministry of Tourism's objective of focusing attention on high-yield tourism visitors, business tourism has been identified as one of the key contributors to economic growth.
To enhance Malaysia’s competitiveness, a Subvention Fund has been set aside to encourage companies, especially non-profit organisations, to bid for and host international business events in the country.
The level of support will be based on an assessment of the overall economic value of the proposed event and several criteria, such as the number of international participants, length of stay, key industry sectors, event profile and timing of the event. Other less tangible factors like the development of an ongoing legacy the event may bring to the community will also be considered.
The events must be either regional or international events which have rotated to at least three countries before and the total attendance should comprise of a minimum of 20% international delegates. In addition, eligible events must generate a minimum of 1000 international delegates days (e.g. 500 international delegates staying for a two-day conference).
Applicants must submit a Subvention Application, comprising of a complete profile business event, event owner(s) and sponsors, to MyCEB for consideration. All submissions will be reviewed by MyCEB and the recommendations submitted to MyCEB's Board of Directors for approval.
Subvention support is also subject to the completion of a Memorandum of Understanding (MOU) between MyCEB and the event owner and/or sponsor. The MOU outlines the mutual obligations of both parties, the schedule and type of support to be provided as well as the agreed performance criteria. Support is also dependent on the completion of a business and event marketing plan to ensure the necessary planning and commitments are in place.
The support provided may apply to different stages of the event planning cycle including the bid process, event planning, event marketing and/or on-site support.
For further information, kindly contact:
Ms Ho Yoke Ping
General Manager - Business Events