PUTRAJAYA, Nov 27 — Communications and Multimedia Minister Gobind Singh Deo today congratulated the National Film Development Corporation (Finas) for the mission to the International Market of Communications Programmes (MIPCOM) 2019, in France last month, which generated RM20.72 million worth of exports and investments.
He said the country’s participation this year also attracted a number of international production companies, which could potentially generate transactions worth RM138.68 million.
MIPCOM is an annual event showcasing creative content involving 14,000 participants from over 100 countries in Cannes, France covering sales, distribution, production cooperation and promoting countries as filming destinations.
“It opens up opportunities for the growth and development of global creative industry players including publishers, broadcasters and movie buyers as well as television programmes,” he said in a statement here.
Gobind said the efforts of the Communications and Multimedia Ministry to make Malaysia a centre for creative content and filming destination could be seen through the promotion of Film in Malaysia Incentive (FIMI).
“The 30 per cent cash rebate incentive has attracted eight overseas productions with potential foreign investments of RM90.3 million,” he said.
Through these efforts, Gobind said the government through the ministry had helped local companies penetrate the international creative content market and contributed to the development of the creative industry and the growth of the country’s economy.
The minister said among the countries cooperating with Malaysia included Singapore, France, the United Kingdom, Korea, India and the United States.
He said the global entertainment and media content industry including animation and e-games, is estimated to be worth US$2.4 trillion (RM9.6 trillion; US$1 = RM4) by 2022 according to the Global Entertainment and Media Outlook 2018-2022 report by PwC, and Malaysia is on the right track to reap the economic benefits of the industry.
“It will greatly benefit the local creative industry players in terms of exposure and experience to improve the quality of content and production aspects of the industry.
“This will also create more job opportunities that will inspire the new generations who are interested in this creative field,” he said.