National Economic Recovery Plan to help revive creative industries in Malaysia

Kuala Lumpur, 18 July 2020- The general view among arts, culture, entertainment and events stakeholders is that the RM225 million funding via the National Economic Recovery Plan (Penjana) will help industries come to life post-pandemic.

Malaysian Artistes’ Association (Seniman) president, Rozaidi Jamil (aka Zed Zaidi), said: “The action taken by the Government is right for revitalising the creative industry (comprising film, advertising, music, etc) and that a great deal can be done with the allocation.”

He said that one of the main complaints during the movement control order (MCO) was that there was no work and no income, so the funding will help people like producers, particularly, ensure people like those working behind the scenes benefit from continuous employment.

The financial support provided under Penjana’s third thrust of stimulating the economy is to help the industries exploit opportunities offered by digitalisation and to find an edge.

“The creative industry started getting back into the swing of things on June 10 after the standard operating procedure (SOP) for shoots was issued, ” he said.

The funding includes RM100mil in soft loans with an interest rate of 3.5%, RM30mil in MyCreative Ventures grants for the creative, events and exhibitions industries and RM10mil for the Cultural Economy Development Agency (Cendana).

Animonsta Studios chief executive officer, Nizam Abd Razak, is glad with the government’s focus on the creative industry as well, adding that “the funding must reach each layer”.

“Projects that involve many in the sector are required, for example joint AniMY projects which utilise different animation studios,” he said.

Focus is important to boost the creative industry and namely on local animation work like BoBoiBoy which has demand and export potential, Nizam said.

He said the RM35mil Digital Content Fund under the Malaysian Digital Economy Corporation (MDEC), with a focus on animation and visual effects, will create a positive impact on companies and individuals.

“MDEC has an effective funding framework and has been helping animation companies to grow for over two decades.

“With careful planning, so much more quality animation reflecting our culture can be created, ” he said.

– Bernama