KUALA LUMPUR, Oct 25 ( Bernama ) - Declaring 2015 as the 'Year of Festival' in 2014 Budget is expected to generate more revenue and attract more tourists to this country.
Deputy president of Malaysian Association of Tour and Travel Agents (MATTA) Jeffri Sulaiman said the initiative to organise more world class festivals will boost the tourism sector. "The influx of foreign exchange by tourists and tourism players will enhance the sector's growth via cultural activities and festivals," he said when contacted by Bernama today.
Prime Minister Datuk Seri Najib Tun Razak also announced the extension of Pioneer Status and Investment Tax Allowance for three years until Dec 31, 2016.
Jeffri said the 'Year of Festival' would spur tourists to stay longer in Malaysia to shop and travel due to the diverse products available at the festivals.
The initiative to create a RM2 billion special fund for tourism infrastructure would create more investments in the industry, both from local and abroad. He said it is laudable and confident it can continue to enahnce the tourism sector and enhance healthy competition among industry players to provide the best tourism services.
The fund provides soft loans with low interest rates of between 4 and 6 percent with 2 percent government subsidy to finance the construction of hotels, resorts and theme parks and buy new equipment.
-bernama.
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