GEORGE TOWN, April 4 — Penang is targeting to generate RM1 billion in value from the meetings, incentives, conferences and exhibitions (MICE) industry this year.
Penang Chief Minister Lim Guan Eng said the sector is rapidly growing and could create high economic value for the state.
"Last year, Penang recorded 1,250 meetings with a RM808 million economic value so we hope that this year we can break the RM1 billion mark," he told a press conference today after announcing April 6 as the Penang Meetings Industry Day.
Lim signed a proclamation to dedicate April 6 as the Penang Meetings Industry Day to promote the industry.
He said the industry created jobs, generated revenue and spurred the local economy.
Penang Convention and Exhibition Bureau (PCEB) chief executive officer G. Ashwin said the Penang Meetings Industry Day is to highlight the importance of meetings and the meetings industry.
He said an event, convention or trade show in Penang will bring in new visitors that will in turn generate further revenue for the state and the country.
Penang is the second state in Malaysia to have a convention bureau to promote itself as a destination for meetings, incentives, conferences and exhibitions (MICE).