KUALA LUMPUR: Budget 2024 will help boost efforts to create a video game hub while attracting such companies to set up offices here, says the Communications and Multimedia Ministry.
Minister Fahmi Fadzil (pic) said the ministry has identified several international video game companies with the potential to be based in the country and make Malaysia the gaming hub of South-East Asia.
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He added that the RM30mil allocated under Budget 2024 to promote Malaysia as an esports industry hub would, hopefully, speed up the process of South Korean video game company NX3 Games spreading its wings here next year since it had voiced its willingness to do so.
“This will surely be a game-changer for the ministry, especially MDEC (Malaysia Digital Economy Corporation).
“I believe that with this initiative, more international companies can be based in Malaysia,” he told reporters after the launch of the Federal Territory-level National Sports Day celebration here yesterday, Bernama reported.
In his Budget 2024 speech, Prime Minister Datuk Seri Anwar Ibrahim announced an allocation of RM30mil to encourage international video game companies to invest in Malaysia in the development of digital products together with local talent.
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NX3 Games, which focuses on games publishing, research and development as well as content design, had previously targeted opening its regional head office in Kuala Lumpur.
Meanwhile, Fahmi said he is also confident that the allocation of RM90mil under the Film in Malaysia Incentive (Fimi) will help film studies in the country, in addition to making Malaysia the filming destination for international films.
“Before the Covid-19 pandemic, we witnessed many film companies coming to Malaysia, but the pandemic has had an effect, especially on several big studios like Iskandar Malaysia Studios Sdn Bhd,” he said.
Anwar announced that RM90mil will be allocated under Fimi to continue encouraging the production of international-standard films and RM10mil for the formation of the MyCreative Matching Fund Scheme to support the efforts of young artists in producing creative projects.
Fahmi also said the allocation for his ministry under Budget 2024 increased by RM400mil compared with 2023 and described the allocation of RM2.85bil as a huge amount that will give good returns to the people.
