Malaysia’s government wants all sports development funding to come from private sources by 2020, saying it’s (yet) another reason the country should move from a planned to a market-based economy.

Financial sports events and development nationwide is becoming more expensive, and sports organizations need to move away from sponsorship to a corporate model with “dynamic return on investment,” said Sports Minister Ahmad Shabery Cheek at the Sports Business Conference.

Sports funding is also part of Malaysia’s grand Economic Transformation Programme (ETP) and 2011-12 has been designated Sports Industry Year (SIY) to encourage more economically sustainable, privately funded sports initiatives. Sports activities contributed about RM30.2 million to Malaysia’s GDP in 2009.

source & article: Business Times