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The Sun
3 days ago
- Business
- The Sun
Business events key to Malaysia's tourism targets under 13MP
KUALA LUMPUR: Business events will play a vital role in helping Malaysia reach its tourism targets under the 13th Malaysia Plan (13MP). Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi emphasised that business delegates are high-value travellers who contribute significantly to the economy. 'More importantly, business travellers bring with them ideas, investments, and influence,' he said at the Business Events Awards Gala Dinner. The tourism sector remains a national priority, with foreign tourist expenditure reaching RM102.2 billion in 2024. Malaysia has hosted over 3,000 business events in the past decade, attracting more than a million delegates and generating RM18 billion in economic impact. Ahmad Zahid stated that the government views the business events industry as a strategic driver of inclusive and sustainable growth. Efforts include simplifying visa processes for frequent travellers and upgrading airports and convention centres to global standards. The government is also enhancing collaboration between agencies like MACEOS, the Tourism Ministry, and the Trade Ministry. 'But infrastructure alone is not enough,' he added, urging MACEOS to elevate its efforts further. - Bernama
The Sun
01-08-2025
- Business
- The Sun
13MP roadmap to boost Malaysia tourism sector by 2030
KUALA LUMPUR: Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing has hailed the 13th Malaysia Plan (13MP) as a strategic roadmap to elevate tourism into a high-income and sustainable sector. With Visit Malaysia 2026 on the horizon, Tiong emphasised that the plan reflects the government's dedication to industry growth and nationwide benefits. During Prime Minister Datuk Seri Anwar Ibrahim's parliamentary presentation, the tourism sector's strong recovery was highlighted, with foreign visitors contributing RM102.2 billion in 2024. 'This achievement is promising, and under the 13MP, we aim to increase tourism's GDP contribution to 16 percent by 2030,' Tiong stated. A key initiative involves establishing Special Tourism Investment Zones (STIZ) in Johor, Melaka, Negeri Sembilan, and Sarawak. 'Forty-three potential sites have been identified as of June 2025. We will expedite implementation with relevant agencies,' he added. Tiong also praised the focus on rural tourism, particularly homestays, which provide income opportunities for local communities while showcasing Malaysia's cultural diversity. Aviation expansion is another priority, with plans to introduce 178 new aircraft by 2030 to enhance regional connectivity. Infrastructure projects in East Malaysia, including the Sabah-Sarawak Link Road and Pan Borneo Highway, were noted as crucial for tourism growth. Tiong concluded by thanking the Prime Minister for his support, reaffirming MOTAC's commitment to making Malaysia a top-tier sustainable tourism destination. - Bernama
The Sun
31-07-2025
- Business
- The Sun
Malaysia tourism growth under 13MP with new investment zones
KUALA LUMPUR: The government will intensify tourism development under the 13th Malaysia Plan (13MP) by establishing Special Tourism Investment Zones (STIZ), preserving heritage sites, and enhancing rural homestays. Prime Minister Datuk Seri Anwar Ibrahim revealed the sector's strong recovery, with foreign tourist expenditure hitting RM102.2 billion in 2024. 'Tourism Investment Zones in Johor, Melaka, Negeri Sembilan, Sarawak, and other states will be expanded through private and cooperative partnerships,' Anwar stated during the 13MP tabling in Parliament. These zones aim to diversify tourism products, emphasizing arts, culture, and heritage, leveraging UNESCO sites like Lenggong Valley and Niah Caves. The Kuala Lumpur Heritage Initiative will restore landmarks such as the Sultan Abdul Samad Building and Merdeka Square, blending modernity with cultural preservation. Anwar added, 'Homestays will be upgraded to spur rural economies, aligning with Visit Malaysia 2026 preparations.' The tourism sector is projected to contribute 16% to GDP by the 13MP's conclusion. - Bernama
Barnama
31-07-2025
- Business
- Barnama
13MP: Tourism Industry Sees Strong Growth, To Be Further Strengthened
KUALA LUMPUR, July 31 (Bernama) -- The government will continue to boost the tourism sector under the 13th Malaysia Plan (13MP) through the development of Special Tourism Investment Zones (STIZ), conservation of heritage assets in the capital, and strengthening of the homestay industry. Prime Minister Datuk Seri Anwar Ibrahim said the tourism industry has gained renewed momentum, with foreign tourist spending surging to RM102.2 billion in 2024. 'Therefore, the development of Tourism Investment Zones in Johor, Melaka, Negeri Sembilan, Sarawak and other states will be intensified in collaboration with the private sector and cooperatives,' he said when tabling the 13th Malaysia Plan (13MP) in the Dewan Rakyat today.
Barnama
17-07-2025
- Business
- Barnama
Malaysia's Real Estate Sector Records Steady Growth In 1H 2025
In its Real Estate Highlights for 1H2025 (REH 1H2025), which covers industrial, office, retail, hospitality, and residential segments, Knight Frank Malaysia highlighted that the market has been showing signs of stability despite global uncertainties. KUALA LUMPUR, July 17 (Bernama) -- Malaysia's real estate market recorded steady growth across key sectors in the first half of 2025 (1H 2025), supported by strong data centre investments, infrastructure development and resilient domestic demand, according to Knight Frank Malaysia. Johor, Penang and Sabah have emerged as industrial growth engines, while Sarawak is seeing increasing focus on green technology parks. According to the report, the industrial sector continued to expand, driven by data centre investments totalling RM163.6 billion in 2024 and supported by strategic infrastructure such as the East Coast Rail Link (ECRL), the Johor-Singapore Special Economic Zone (JS-SEZ), and Port Klang upgrades. Office markets in Klang Valley, Johor and Penang remained steady, with stable or improving occupancy rates and rental demand. Klang Valley is expected to see 4.2 million square feet of new warehouse supply by 2H2025, reshaping availability and pricing dynamics. Klang Valley is projected to add over two million square feet of new office space in 2025. In Johor Bahru, office rents rose between RM0.10 and RM0.40 per square foot in prime areas, supported by newer supply and steady absorption. Penang's office market held steady with minor occupancy improvements across Penang island and Seberang Perai. In Sabah and Sarawak, demand remained firm, underpinned by consistent tenant retention and infrastructure-driven confidence. Retail Sector Retail performance was steady nationwide, with Klang Valley expecting three million square feet of new retail space in 2H2025. Malls such as Sunway Pyramid and IOI City Mall are undergoing green and tech-focused upgrades to stay competitive. Retail occupancy in Johor Bahru stood at 72.4 per cent in the first quarter of 2025 (1Q2025), while Penang saw a slight dip to 72.1 per cent (4Q2024: 72.3 per cent), with activity balanced between island and mainland locations. Kota Kinabalu's retail occupancy edged up to 79.2 per cent (4Q2024: 78.9 per cent), supported by lifestyle-led and experiential retail offerings. Hospitality Sector The hospitality sector continued its recovery, recording more than 25 million visitors and RM102.2 billion in receipts in 2024. Kuala Lumpur holds 16.9 per cent of the country's total hotel room supply, and steady gains in occupancy and room rates were seen across key destinations. Sabah surpassed its 2024 tourism target with 3.1 million arrivals, and Sarawak exceeded its own with 4.8 million visitors, driven by events, improved connectivity and strategic branding. Residential Sector The residential sector was mixed. Kuala Lumpur recorded a 3.2 per cent year-on-year increase in home prices in 1Q2025, but saw an 8.7 per cent drop in transactions, pointing to a possible oversupply in high-rise units. Johor's residential market grew stronger with a 14 per cent jump in transaction value in 1Q2025, while Penang saw slight dips in high-rise transaction volume and values. Outlook and Caution Knight Frank Malaysia group managing director, Keith Ooi, said Malaysia's real estate market continues to demonstrate resilience despite global headwinds and increasing policy complexity. 'What we are seeing now is a more discerning market – investors and occupiers are sharpening their focus on long-term fundamentals, especially assets that can deliver sustainability, efficiency and adaptability,' he said. Meanwhile, its executive director of Research and Consultancy, Amy Wong, said the REH 1H2025 report highlights emerging opportunities in both established and developing regions across Malaysia. 'Infrastructure projects like the ECRL and JS-SEZ are lifting regional prospects, while the rise of environmental, social, and governance (ESG) standards, smart retailing, and demand for lifestyle-centric developments are reshaping the market landscape,' she said. Despite the positive outlook, the report also cautioned that certain challenges remain, particularly in the industrial and office segments, where infrastructure limitations, electricity costs, and talent shortages are influencing investment decisions. 'The office market may see more measured leasing activity as businesses contend with operational cost pressures and upcoming tax changes. 'In retail, while demand is underpinned by wage recovery and tourism, consumer sentiment may soften amid rising costs and fewer festive catalysts,' it said. It added that the residential sector is expected to remain resilient, but developers and investors must stay agile in navigating shifting market conditions and global headwinds. --BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
