The 'Film in Malaysia Incentive' programme introduced by the National Film Development Corporation (Finas) is a landmark effort that would develop Malaysia as a preferred destination and film production hub.

Secretary-general of the Communications and Multimedia Ministry, Datuk Seri Abdul Rahim Mohamad Radzi said Malaysia, through Finas, had also been supportive of its homegrown talents and saw great potential in the creative content industry.

"Finas continues its ongoing tradition of supporting local talents by promoting Malaysia's creative contents on the international stage," he said at the ongoing World Audio Visual Trade Exhibition (MIPCOM) in Cannes, France.

In a statement issued here Tuesday, Abdul Rahim said: "We see great potential (in the industry) and per the recent Budget 2015, the government has allocated a Digital Content Industry Fund of RM100 million that would encourage local productions to achieve international standards."

He said Finas had performed well this year, earning RM67.4 million in total revenue sales and was expected to achieve its target of RM165 million by the end of this year.

To date, Malaysia had exported over RM400 million worth of creative content and it was positive of hitting the RM600 million target by the end of 2014, he added.

MIPCOM 2014, from Oct 13 to 16, is one of the biggest annually held global markets for international creative contents across all platforms.

Abdul Rahim heads the Malaysian delegation to the four-day MIPCOM, which includes a screening session, meetings and a conference involving 18,000 practitioners in the entertainment industry from 120 countries.