Malaysia Announces Global Push To Establish Competitive Creative Content Hub in Asia

CANNES, France, Oct. 8, 2013 /PRNewswire/ -- Malaysian Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek announced Malaysia's push towards growing its creative content industry and expansion of numerous assets to attract international entertainment producers at MIPCOM today, a gathering of the entertainment world's creative talents.

"Malaysia offers industry investors state-of-the-art infrastructure, attractive incentives and funds, skilled talent and award-winning creative content expertise," observed the Minister. "We strongly encourage film, TV, game and entertainment producers to experience and benefit from our facilities, strategic location and business-friendly environment."

Recent testaments to Malaysia's attraction as a cost-competitive regional hub include Pinewood Studios' and Astro TV's investment in state-of-the-art new production facilities as well as the production of internationally-acclaimed Computer-Generated Imagery animations such as Life of Pi, Snow White and the Huntsman, or Vikingdom: The Blood Eclipse. Encouraged by international industry recognition for the award-winning animation, War of The Worlds: Goliath, Malaysian companies continue to nurture talents and expand production capabilities to compete on a global platform to establish the fast-growing Eco-system as the best in the region, aided by a high level of English proficiency, best-in-class facilities and outstanding creativity.

"Malaysia is embarking on an unprecedented push to grow Malaysia's creative content industry through its Economic Transformation Program," commented the Minister. "In addition to developing communications infrastructure and facilitating access to funds granted by industry associations and national agencies, we offer a 30% cash rebate to local and foreign production companies for development of film, TV and on screen productions when filming in Malaysia."

Ranked at #10 in the AT Kearny FDI Confidence Index 2012, Malaysia has to date attracted more than 5,000 foreign companies from more than 40 countries to establish their operations in the country. With revenues of USD4 billion reported in 2012, Malaysia's creative content industry is forecast to generate USD10 billion to the country's GDP and create over 10,000 jobs by 2020.

About the National Film Development Corporation Malaysia (FINAS)

National Film Development Corporation Malaysia (FINAS) is Malaysia's leading film agency and authority entrusted with the responsibility of developing the film industry. Established in 1981, it is a statutory agency under the Ministry of Information, Communication and Culture (MOICC). FINAS is responsible to promote, preserve and facilitate the development of the film industry in Malaysia. FINAS is the first point of contact that provides information, advice, support services and incentives for creative content production in Malaysia. FINAS is also the agency that facilitates all foreign film production work in Malaysia.

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SOURCE National Film Development Corporation Malaysia (FINAS)