Proposed Sports Industry Paper Promises Intrigue Says Khairy

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The prevalence of corporate partnerships and sponsorships in sports is proof of the sector’s lucrativeness, says Khairy Jamaluddin.PETALING JAYA: Former youth and sports minister Khairy Jamaluddin has expressed eagerness for an upcoming Cabinet paper on the sports industry, saying he expects to be “intrigued” by its details.
Khairy said the industry’s impact goes beyond nurturing top athletes to make them competitive in the international arena.
“I believe in developing the sports industry. We recognise its significance not only in producing world-class athletes but also in fostering a healthy populace.
“It’s a lucrative sector, as is evident in the corporate partnerships and sponsorships prevalent in many sports,” he told FMT.
On April 27, youth and sports minister Hannah Yeoh announced that the proposed paper would be tabled before Cabinet within a month.
She said it would encompass sports medicine, the use of health supplements, insurance, the operation of gyms and sports facilities, the organisation of sports activities and conferences, as well as other related activities capable of generating income for the country.
Yeoh also said her ministry will collaborate with the statistics department to collect comprehensive data to stimulate the growth of sports in the country.
‘Shot in the arm’
S Suriaghandi.Meanwhile, National Sports Council board member S Suriaghandi expects the paper to be a shot in the arm for sports, making it a high-value industry and benefiting the entire ecosystem.
He said the youth and sports ministry must coordinate with the finance ministry to provide tax breaks and incentives capable of attracting private sector involvement in the industry.
The proposed collaboration with the statistics department is also critical, Suriaghandi said, adding that the collation of accurate data would allow the ministry to seek additional funding support from the finance ministry.
He said taxes collected from the sports industry will allow for the growth of the youth and sports ministry.
“A portion of these taxes, if not all of it, should be ploughed back into the ministry to support the sports industry’s growth.
“With the extra funding, the National Sports Council will be able to enhance a lot more of its programmes. This will also help the ministry’s aspiration to produce a healthy, active and prosperous society,” he said.
‘Complete ecosystem’
Reezal Merican Naina Merican.Another former youth and sports minister Reezal Merican Naina Merican said that the paper would benefit those who are involved in supply of sports-related products and services.
“It is imperative to understand that sports is just not physical activity. Sports must be seen as a complete ecosystem that comprises producers, traders, retailers and users, and the downstream and supporting activities that come from the activities themselves.
“Having a master plan or blueprint for the sports industry is very essential and timely,” Reezal told FMT. - FMT

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