Emphasis on creative sector growth to continue

PUTRAJAYA: Prime Minister Datuk Seri Najib Tun Razak says the Government will continue to emphasise on the development of the creative industry which can potentially contribute to a higher gross domestic product (GDP) going forward.

He said currently, the Malaysian creative industry only contributed 1.3% to the GDP compared with developed countries, such as the United States and Japan, which contributed up to 7% to the GDP.

Therefore, Najib, who is also finance minister, said the Government had approved an allocation of RM200mil in the 2012 Budget to boost the local creative industry.

“I see that the creative industry has a really big potential to contribute to the GDP.

“In today’s event, we are giving soft loans amounting to RM21mil to 15 companies. This is only the first phase. The second phase will follow at the end of this year,” he said at the financing scheme presentation ceremony to 15 companies at the Perdana Putra Complex yesterday.

The companies are ArtCube (visual art), Clothier Creation – Khoon Hooi (fashion), Akarkarya (music), MyPAA (performing arts), Accurve Studios (video games), DragonSlate (film), Comoddity (fashion), Pearly Wong Collection (fashion), Point College (creative academy), Fern Design (fashion), dUCK (fashion), Platinum Unik (indigenous Asli handicraft), Masakini Theatre (performing arts), Legau Sudin (creative content) and Melinda Looi International (fashion).

Also present were MyCreative Ventures Sdn Bhd (MyCreative) CEO Johan Ishak and MyCreative chairman Datuk Seri Ahmad Farid Ridzuan.

MyCreative is a government investing arm which aims to boost the local creative industry to a higher standard through strategic and innovative financing, either in the form of equity or loan.

Besides contributing to the GDP, Najib said the creative industry would also introduce the identity of a country to the outside world. – Bernama

Giving an example, he said, South Korea, which focused on high technology in its culture and creativity sector, had succeeded in positioning the K-Pop in the world. – Bernama

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