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KUCHING, June 23: Federal Ministry of Tourism, Arts and Culture (Motac) is considering the idea of setting up a tourism bank to provide support to local operators within the tourism sector in Malaysia.
Its Minister Dato Sri Tiong King Sing acknowledged the ongoing challenges faced by the hotel industry, even after the period of movement control measures.
Due to the high-risk nature of the hotel industry, he is aware that traditional banks might be hesitant to approve loans and this posed a significant obstacle to business development.
“Currently, Motac is looking for the best solution towards setting up a tourism bank.
“The establishment of such a bank is of great significance as it would directly assist local tourism operators in advancing Malaysia’s tourism industry,” he said in a post on his social media today.
These remarks were made during his address the 23rd Anniversary celebration banquet of the Malaysia Budget and Business Hotel Association (MyBHA) held in Kuala Lumpur yesterday (June 22).
Tiong emphasised that the government must help the tourism industry players as they are the driving force behind the growth and progress of Malaysia’s economy.
Furthermore, he also expressed his commitment to support the hospitality industry in meeting the expectations of tourists and hotel guests, as part of the efforts to revive the tourism and hotel sector following the impact of the Covid-19 pandemic.
“I will be having a discussion with Prime Minister Datuk Seri Anwar Ibrahim in the near future about how we can help the hospitality industry,” he added. — DayakDaily
