How to improve film industry in Malaysia?
The National Film Development Corporation Malaysia (FINAS), has been collaborating with the Malaysia Digital Economy Corporation (MDEC) in helping the creative content industry as well as planning for businesses.
Innovative ideas are manifested by initiatives such as Film in Malaysia Incentive (FIMI) and Creative Malaysia; these are crucial in putting Malaysia on the global creative industries map.
1) Film in Malaysia Incentive (FIMI)
This is apt as one of the most important creative industry components in Malaysia is the film industry.
According to a FINAS report, FIMI, which was launched on the 19th of February 2013, have two main objectives:
- To encourage Malaysian film producers to create creative content that is of high quality for international and domestic markets and;
- To attract foreign film producers carry out their filming activities in Malaysia and to turn Malaysia into an international film location.
In so doing, a 30% cash rebate of the total cost of film production and postproduction will be paid to any foreign company working in Malaysia.
It has always been at the heart of the government’s incentive to encourage foreign companies to work in Malaysia so that Malaysian workers can learn from their foreign counterparts.
2) Creative Malaysia
In 2012, the Prime Minister of Malaysia launched a new initiative to boost the creative industry. Initially announced by the Prime Minister in 2012 budget proceedings, the government allocates RM200 million dedicated towards the growth of the creative industry in Malaysia.
The new initiative involves the setting up of MyCreative Venture Sdn. Bhd. (MyCreative), which was incorporated on 20 April 2012 under the Malaysian Company Act, 1965 by the Ministry of Finance Incorporated (mycreative.com.my).
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