Cannes, France The National Film Development Corporation Malaysia (FINAS) has revealed during its participation in the Cannes Film Festival and Marche du Film 2012 the Malaysian government’s latest plans in developing the Malaysian creative industry, particularly in the feature film, television, visual effects, and animation sectors.

Among several announcements made by FINAS’s Director General Mohd Naguib Razak, who leads the Malaysian delegation to Marche du Cannes this week, is the introduction of the “Film in Malaysia” Incentive. Both local as well as foreign film productions, including feature films, animation, documentaries, television productions and commercials, will be eligible for a 30 percent cash rebate on audited in-country spend, as long as they qualify the minimum spend criteria of RM5 million (approximately US$1.6 million) in-country spend for foreign productions and RM2.5 million (approximately US$830,000) for Malaysian productions.

FINAS also announced the International Film Festival of Malaysia (IFFM), to be held in November 10 to 18 in Kuala Lumpur. IFFM will offer local viewers a selection of new films from around the world with critical hits, festival prize winners, box office successes and more, most of which will be showing in Malaysia or in the region for the first time.