KUALA LUMPUR, Jan 13 — The youth should venture into business especially in the domestic tourism sector as the industry is expected to grow rapidly in 2023, according to Economy Minister Rafizi Ramli.
He said the inflow of foreign tourists following the border reopening is expected to reinvigorate the nation’s tourism sector.
“Many do not realise that the tourism revenue from local tourists exceeds that from foreign tourists.
“In terms of the value chain and services that one can venture into in the (domestic) tourism sector, it does not require a very large capital compared with the infrastructure that may need to be created if we focus on foreign tourists,” the minister said at the launch of Jiwa SME 2023 conference and carnival today.
Rafizi noted another potential area of focus for youth involves the food chain, which can help reduce the country’s dependence on imported food.
Meanwhile, the objective of the three-day Jiwa SME 2023 conference and carnival, organised by Astro Awani Network Sdn Bhd starting today, is to empower the micro, small and medium enterprises (MSMEs) to advance in the post-pandemic recovery phase.
Astro Malaysia Holdings Bhd group chief executive officer Henry Tan said the media company has a role to play to ensure the local communities and entrepreneurs are empowered with the necessary information to boost the economy of the MSMEs and nation.
Of the establishments in Malaysia in 2021, 97.4 per cent were MSMEs and they contributed RM518.1 billion to the country’s gross domestic product, according to the Statistics Department.
“This is a significant amount, and we at Astro Awani believe that their potential should be looked at and supported through this Jiwa SME event,” Tan said.
He explained the programme utilises three key methods, namely relating inspirational success stories, improving the skills of entrepreneurs and the workforce, and sharing the latest solutions for current business challenges.
— Bernama
