MyCreative Ventures Group said it welcomes the Government’s continued efforts to support the creative industry by allocating RM160 million to implement various initiatives for the benefit of local artists and encourage the production of creative works in Malaysia.
The 2024 budget presented by the Prime Minister, YAB Dato’ Seri Anwar Ibrahim was highly anticipated and coincides with the needs of the country’s creative industry players who hoped for targeted support from the government.
The agency said the latest allocations announced will undoubtedly boost the creative industry by developing local talents, improving the sustainability of the ecosystem, and building momentum for growth. The decision to invest strategically in a promising sector of high and holistic returns clearly proves the Government’s commitment to helping art practitioners.
“We are delighted and grateful to the Government for allocating RM10 million to establish the MyCreative Matching Fund Scheme. This allocation is aimed at supporting young artists in producing high-quality and globally recognized creative projects. MyCreative also welcomes the additional allocation of RM60 million under the Digital Content Fund (DKD) to promote local works and support content with national values.
We also welcome the announcement by the PM regarding the complete exemption of entertainment duty rates for local artist performances, as well as the reduction of entertainment duty to 10 percent for international artist performances, film screenings, sports events, games, and more.
Our hope is that artists and creative entrepreneurs, especially among the youth, will continue to produce and build networks on an international level.”
MyCreative, through its units, namely CENDANA, RIUH, and BASKL, supports and champions the artistic creations of the local creative industry practitioners.
