KUALA LUMPUR: Youth and Sports minister Hannah Yeoh believes the Budget 2023 sports incentives will encourage the participation of the private sector in organising more sports events.
She disclosed that many up-and-coming athletes were contemplating quitting sports due to the lack of sports events in the country.
The government allocated RM324 million for sports development, upgrading sports facilities and enhancing training programmes for athletes under Budget 2023 tabled yesterday.
Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, said the allocation was to develop the overall ecosystem of sports, identify talent, develop athletes and maintaining and upgrading sports facilities in the country.
He also announced a "tax relief" of up to 10 per cent of aggregate income to individuals or companies that contribute to non-profit organisations with sports development programmes.
The government will also provide a matching grant of RM50 million to encourage private sector sponsorship, especially for unity-based sports and the organisation of national-level competitions.
"The involvement of the private sector will see an increase in sports events for local athletes," said Yeoh after launching the PSA WSF Satellite Tournaments Series in Kuala Lumpur today.
"Our athletes need a solid platform to gauge their standard and earn ranking points.
"A satellite event was organised in Seremban last week, and it has helped our athletes to earn world ranking points.
"We hope the media will highlight the importance of having regular competitions in the country.
Wong Heng Wai, 19, moved up 21 spots to world No 181 after winning the WSF Satellite No. 1 tournament at Sungei Ujong Club in Seremban last week.
"I am happy the organisers (Ace) will host 11 squash events this year. I hope our players will take this opportunity to improve their game and ranking.
"I want Malaysia to become a favourite destination for foreign athletes. We want to make Malaysia affordable for competitions," Yeoh added.