FINAS SECURES RM90 MIL IN POTENTIAL INVESTMENTS FROM FOREIGN PRODUCTION COMPANIES

AISHA HANI NOR AZMIR

KUALA LUMPUR, Nov 22 (Bernama) -- The National Film Development Corporation (Finas) has managed to secure the interest of eight foreign production companies, along with potential investments totalling RM90.3 million.

Finas chairman Datuk Gerald Hans Isaac said this was made possible by promoting the government's Film in Malaysia Incentive (FIMI) at MIPCOM 2019 (The World's Entertainment Content Market) in France, from Oct 14 to 17 last month.

The move is also expected to generate jobs as the employment of local production staff is a condition of the incentive offered to foreign production companies to invest in Malaysia, he added, when speaking at a press conference at the ConnectASIA 2019 event here today.

MIPCOM  is a marketing platform for film and television producers, broadcasters, distributors, suppliers and purchasers from all over the world, he said, adding that the Malaysian delegation's visit to the exposition, had succeeded in improving collaboration and strategic relationships with parties from Singapore, France, the United Kingdom, Korea, India and the United States.

He added that the effort was also in line with the government's mission to make Malaysia a centre of creative content and film production.

At the event in France, the Communications and Multimedia Ministry via Finas, also conducted transactions totalling RM20.7 million, as well as business opportunities worth RM138.7 million, said Isaac.

Twenty local production companies including Animasia Studio, Animonsta Studios, Double Vision and Primeworks Distribution, were part of the delegation led by Deputy Minister Eddin Syazlee Shith - also present were ministry secretary-general Datuk Suriani Ahmad, Isaac and Finas chief executive officer Ahmad Idham Ahmad Nadzri. 

-- BERNAMA