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Finas targets RM50mil in foreign investments from Marche du Film 2022

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KUALA LUMPUR: Malaysia’s participation at the Marche Du Film 2022 film market is important as it will be the benchmark for Malaysia’s determination in promoting and selling the country’s creative content products internationally.

Communications and Multimedia Minister Tan Sri Annuar Musa will lead the Malaysian delegation to the film market, which will be held at the Palais des Festivals in Cannes, France, from Tuesday (May 17) to May 25.

Marche Du Film is the film industry’s biggest gathering for producers, financiers, broadcasters, distributors, suppliers and buyers from around the world to meet, share ideas and make deals.

National Film Development Corporation (Finas) chief executive officer Prof Dr Md Nasir Ibrahim said apart from promoting and selling the country’s creative content products, Malaysia’s main purpose at the film market was to attract foreign investors to the country through the Film in Malaysia Incentive (FIMI)

“This year, we are targeting RM50mil in foreign investments into Malaysia through FIMI.

“Finas intends to use the Marche film market as a platform to promote Malaysia as an international filming destination that offers 30% cash rebates through FIMI and an additional up to 5% through cultural tests,” he told Bernama.

Md Nasir said a total of 13 local companies will be introducing various creative content products such as feature films, animations, documentaries and others at Marche 2022, with 10 of them physically present while three others will attend online.

Among the companies are Barnstorm Entertainment, Biscuits Films, Film Wallet Group, Iskandar Malaysia Studios, Jazzy Pictures and Sarawak Media Group.

“We will also have a ‘Malaysia Pavilion’ there (in Cannes) to bring together Malaysian creative industry players under one roof and introduce them to their international counterparts..

“At the same time, this shows the government’s seriousness in helping local creative content industry players penetrate the global market after being badly affected during the movement control order enforcement due to Covid-19,” he said.

Md Nasir said Malaysia, through the Communications and Multimedia Ministry and Finas had participated in the international market since 2009 and over the past 12 years, sales of creative contents by local production companies had amounted to RM600mil.

He said the value of investments obtained through FIMI from 2013 to last year was RM4bil.

“Finas is targeting foreign investment for large and high-profile projects through FIMI as before. Examples of projects that have chosen Malaysia as their filming location are the films Crazy Rich Asians, Kuu Kuu Harajuku, 6 Underground and the Star Wars series, Mandalorian.

“This proves that foreign countries are now focusing on making Malaysia as a filming location for their productions due to the country’s scenic beauty, skilled manpower, production facilities, hospitality and incentives offered,” he said.

Throughout the nine days, Marche 2022 will be filled with various programmes including meetings with international production companies, a conference entitled “Malaysia – The Heartbeat of Asia” and creative content product marketing sessions. – Bernama