The Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS) has now embraced the news of setting up the Special Cabinet Committee as they have urged the government to intervene to aid the business events industry.

According to a survey by MACEOS, at least 32 percent of the small and medium scale enterprises in the industry will be forced to wind up if the pandemic is extended up to four months. By the fourth or fifth month of the pandemic, another 21 percent of the business events organizer and related companies are expected to wind up. The survey details will be released soon. This will undoubtedly have a multiplier effect on the country’s economy.

The industry is currently facing up to RM1.5 billion loss due to cancellation and postponement of business events. 

Vincent Lim, MACEOS President said, “Since Visit Malaysia Year has been deferred, the fund of well over RM 2 billion meant for Visit Malaysia Year 2020 should be re-allocated to save the industry,”.

In their submission to the Malaysia Convention & Exhibition Bureau (MyCEB) recently, the association have outlined several areas that the Government should address:
(1)  75 percent of workforce salaries to be covered and waive the employer’s EPF contribution for six months effective April 1.

(2) In the financial year of 2020; subsidizing the exhibition venues in the event of postponement or cancellation.

(3) To provide a special grant through MyCEB, to support local SMEs to bid for more international events to be hosted in Malaysia;

(4) To incentivize professional accreditation certificates during this period;

(5) To provide an incentive of RM6,000 per Destination Management Company to stimulate more corporate events and encourage incentive groups to travel to 2nd tier cities in Malaysia after the dust has settled; 

(6) To establish an incubation program to assist homegrown trade exhibitions, conferences and lifestyle events.

The committee will be co-chaired by two Senior Ministers: International Trade and Industry Minister Datuk Seri Azmin Ali and Defence Minister Datuk Seri Ismail Sabri Yaakob. The committee will be reporting all the recommendations to the Prime Minister at the Economic Action Council (EAC) meeting dated April 6.