RM220m for a slice of global media industry

THE “Made-by-Singapore” label could feature more prominently in films, TV programmes and video-games here and abroad following Government-funded plans to expand the media industry. 

That would mean grooming talent and encouraging film-makers, production houses, computer-game developers and international media and cable operators to set up shop here. 

The goal, as Media Development Authority chief executive Lim Hock Chuan saw it, was to make Singapore “a lively bazaar where ideas and scripts have access to investors and financiers, who in turn have access to producers and publishers”. 

Information, Communications and the Arts Minister Lee Boon Yang said on Tuesday that Singapore wanted to grow the industry here in a bid for a slice of the US$1tril (RM3.8tril) global industry.  

His target is doubling the media sector’s contribution to 3% of gross domestic product. 

More jobs would also be created, enlarging the industry’s workforce from 38,000 now to 50,000 by 2012, he told media executives at the Media 21 forum on Tuesday. 

And he believes Singapore has what it takes to succeed, with global players here and a growing local talent pool. 

But “to give our budding talent a leg up”, he said the government would set aside S$100mil (RM220mil) over the next five years. 

But PricewaterhouseCoopers’ Marcel Fenez said Singapore must loosen censorship rules to become a global media city. 

While Singapore had the right ingredients, it must also contend with “external perceptions”, he said, while attracting investors. – The Straits Times/Asia News Network  

For another perspective from The Straits Times, a partner of Asia News Network, click here.

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