Cannes – At a press briefing at the start of the Cannes Film Market and Festival, the Media Development Authority of Singapore (MDA) announced several new initiatives as part of its Singapore Media Fusion Plan (SMFP) to attract the world’s creative community to partner with Singapore companies as it strives to develop Singapore into a trusted global capital for New Asia Media. Dr Christopher Chia, MDA’s chief executive officer said that the Singapore government has earmarked €116.5 million (US$156 million) over five years to develop the country’s media content sector. Emphasising the creation of new intellectual properties, as well as the formation of new digital media industries, the SMFP is looking to partner international companies tapping on new markets in Asia and beyond. The three initiatives outlined by the MDA include the International Film Fund (IFF), which will encourage projects to be shot in and out of Singapore; the first US$6.7 million for its Stereoscopic 3D Development Fund; and Mediapolis @ one-north (currently under development), a state-of-the-art studio complex which offers sound stages, digital production, post production, broadcast and distribution facilities.