Khairy noted the significance of the sports sector highlighting its role beyond merely fostering elite athletes for international competitions.
“I believe in developing the sports industry. We recognise its significance not only in producing world-class athletes but also in fostering a healthy populace,” FreeMalaysiaToday quoted him as saying,
“It’s a lucrative sector, as is evident in the corporate partnerships and sponsorships prevalent in many sports.”
Youth and Sports Minister Hannah Yeoh announced on April 27 that the proposed paper would be presented to the Cabinet within a month.
Yeoh outlined the paper’s scope, which includes aspects such as sports medicine, the use of health supplements, insurance, gym and sports facility operations, organising sports events and conferences, and other income-generating activities related to sports.
In addition to this, Yeoh mentioned plans for collaboration with the statistics department to gather comprehensive data aimed at stimulating the growth of the sports sector.
Meanwhile, National Sports Council board member S Suriaghandi anticipates that the paper will inject new vitality into the sports industry, transforming it into a high-value sector that benefits the entire ecosystem.
Suriaghandi pointed out the need for coordination between the Youth and Sports Ministry and the Finance Ministry to provide tax breaks and incentives to attract private sector involvement in the industry.
Moreover, he highlighted the importance of accurate data collection, stating that it would enable the ministry to seek additional funding support from the Finance Ministry.
“A portion of these taxes, if not all of it, should be ploughed back into the ministry to support the sports industry’s growth.
“With the extra funding, the National Sports Council will be able to enhance a lot more of its programmes. This will also help the ministry’s aspiration to produce a healthy, active and prosperous society,” he said.
Former youth and sports minister Datuk Seri Reezal Merican Naina Merican echoed the sentiment, emphasising the need for a comprehensive plan to benefit all stakeholders involved in the sports ecosystem.
Reezal stressed that sports should be viewed holistically, encompassing producers, traders, retailers, and users, along with downstream and supporting activities.
“It is imperative to understand that sports is just not physical activity. Sports must be seen as a complete ecosystem that comprises producers, traders, retailers and users, and the downstream and supporting activities that come from the activities themselves.
“Having a master plan or blueprint for the sports industry is very essential and timely.” – May 3, 2024
