MIPTV: Malaysia builds content development hub
Cannes, France – Malaysia has invested significantly in up-skilling local talents and facilitating state-of-the-art production facilities that are now attracting globally-recognised production companies to the country.
The two-pronged strategy of providing attractive government assistance and rewarding private investment has reaped significant results as export of content produced in Malaysia has almost doubled in value over the past 24 months.
Speaking at MIPTV in Cannes, Chairman of the National Film Development Corporation Malaysia (FINAS), Datuk Haji Md. Afendi Datuk Haji Hamdan, said that the government is investing significantly in creative multimedia infrastructure as seen through the recent opening of the US$120 million Pinewood Iskandar Malaysia Studios which is the region’s largest independent integrated studio facility. This is in addition to the renowned KRU Studios in Cyberjaya, which will be premiering its recent production Ribbit a 3D animated comedy story starring an internationally renowned cast (Tim Curry, Russell Peters & Sean Astin) at the upcoming Cannes Film Festival.
The value chain extends downstream, where Malaysia is recognised as providing cutting-edge technologies at a fraction of international costs, and offering high-technology film and television studios that include 3D animation and documentary productions. Shooting locations are another significant attraction, thanks to Malaysia’s cultural richness and heritage. These are strong pull factors that are encouraging international buyers, investors and co-production partners to expand its endeavours in Malaysia.
“Earlier last year, we launched the Film in Malaysia Incentive (FIMI) which provides local and foreign producers a 30 percent rebate on audited in-country spend. We are proud to say that we have exceeded our target of US$30.6 million as we achieved US$45.4 million of the total estimated FIMI incentive value by end 2013.”
FIMI has attracted both local and foreign productions in the recent times, including four local projects and six foreign productions that are currently taking place.
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