FINAS targets RM50 million foreign investment at Marche Du Film 2022

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 RM50 million foreign investment 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 per cent cash rebate through FIMI and an additional up to five per cent through cultural test," 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, 10 of them will be 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 (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 to 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 Ministry of Communications and Multimedia (K-KOMM) 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 RM600 million.

He said the value of investments obtained through FIMI from 2013 to last year was RM4 billion.

"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 filming locations 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.