Year End Sales Carnival, Malaysia Year-End Sale 2010 (M-YES), hoping to boost sales of RM16 billion following the abolition of import duties on 300 products related to tourism, said Tourism Minister Datuk Dr Ng Yen Yen.
He said the elimination of import duties for elegant dress, fashion accessories, jewelery, and cosmetic products will be able to attract local and foreign buyers to the carnival.
The abolition of import duties were announced by Prime Minister Datuk Seri Najib Tun Razak, when presenting the 2011 Budget in Parliment in September.
Datuk Seri Dr Ng said the state wants to encourage investors to invest in the mall and make Malaysia a major shopping destination in the world.
"By doing so we can attract more tourism spending and stay longer in Malaysia," he said at the official launch of the shopping center Fahrenheit 88, here today.
He said the ministry was allocated RM20 million annually to promote the activity of shopping.