Bank Negara Malaysia is finalizing a list of financial institutions for the tourism sector

By TIN Media | Tourism Malaysia Published 6 months ago on 23 June 2020
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Bank Negara Malaysia ( BNM) is finalizing a list of financial institutions that will provide RM 1 billion of loans under the National Economic Recovery Plan (PENJANA) Tourism Financing Scheme.

Tourism, Arts, and Culture Minister Datuk Seri Nancy Shukri said BNM ould be announcing the details next month, including which small and medium-sized operators are eligible to receive the loan facility.

“The government has announced the RM1 billion allocation to finance transformational initiatives by the small and medium enterprises (SMEs) in the tourism sector,” she told reporters after visiting several government project sites in the Batang Sadong parliamentary constituency.

She claimed that financing was part of the government's efforts to ensure that SMEs continued to operate and compete in the new normal era.

At present, the Ministry is outlining a tourism and cultural recovery plan for the post-MCO (Movement Control Order), which would start by re-activating domestic tourist activities.

In addition to that public relations and promotion through social media and collaboration with the private sector, Nancy said Tourism Malaysia will be involved in strengthening domestic tourism initiatives in the course of the campaign.

“We will upgrade the quality of tourism products and services by applying the new normal to increase the confidence of tourists to revisit and stay for a longer period, as well as shopping,” she said.

The Ministry intends to encourage the arrival of tourists from the short-haul market, particularly from the ASEAN countries, on international tourism.

“However, the implementation will depend on the outcome of bilateral discussions with countries involved, with primary consideration given on the aspects of health, immigration, data tracking, and continuous monitoring,” she said.


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