Creative Economy 2021 Forum fosters sustainable and resilient creative economy

KUALA LUMPUR – The Creative Economy 2021 Forum: Focus on Arts  and Culture, jointly hosted by MyCreative Ventures Sdn Bhd (MyCreative), Cultural Economy  Development Agency (CENDANA) and RIUH, was held virtually via Zoom Webinar yesterday (October 20). 

The event was a follow-up online conversation from the Creative Economy 2021 Forum: The  Creative, Arts & Cultural Industries Reimagined, which was streamed live on October 6, 2020. It  brought together the arts, donors and businesses, for discussions and conversations on priorities as  well as opportunities to create a vibrant, ambitious and sustainable creative economy for Malaysia. 

Datuk Saifuddin Abdullah, Minister of Communications and Multimedia, said in his honourable remarks, “The threat of COVID-19 continues to loom over us, as we race to find a  solution to end this pandemic. Until then, we need to support the creative industry to pivot, adapt  and evolve. The silver lining to our current predicament is that it has also presented an opportunity  for the industry to take the necessary steps to become more resilient and robust to face future  challenges. 

“We needed to find ways beyond financial subsidies and tie-over measures, to enable artists and  creative enterprises to become self-sustaining and realise their potential of becoming significant  income-generators for Malaysia’s economy,” Datuk Saifuddin added. 

MyCreative, which also includes CENDANA, was given the mandate to implement and carry out  the PENJANA Plan for the Creative Industries, via a variety of schemes and initiatives such as Live Event Grants, Digital Marketing Grants, Matching Investments Schemes, Fast Track, Low-Interest Soft Loans,  and the Digital Velocity Programmes comprising digital marketing and promotion training,  connectivity assistance and advisory services. 

1,745 applications worth RM73 million for various measures from the stimulus package are currently  being reviewed by MyCreative. Meanwhile, CENDANA has already approved 234 applications worth  about RM3.5 million. A further 114 applications amounting to RM9.6 million have already been  approved for distribution to successful applicants for the Fast Track Loans, Digital Marketing Grant  and Velocity training under the PENJANA Plan for the Creative Industries. 

Strengthening the Creative Economy as a significant contributor to the GDP 

Mohd Naguib Razak, Chairman of MyCreative said: “The Creative Economy 2021 Forum essentially  stems from the Governments’ desire to completely rethink the creative industries and to ensure that  investments made yield solid returns for our investees or grantees, while creating a highly visible and  impactful outcome that others could learn from and build on in order to have a broad social as well as  branding impact on our society and country.”

“A strong creative economy means a prosperous society and the work of our country’s incredible  artisans and creative practitioners will be seen in all aspects of our lives, whether it’s in the cars we  drive, the batik we wear or the shows we watch.” Mohd Naguib added. 

This virtual forum, included panel discussions on corporation and foundation priorities, placed  particular emphasis on the role corporate bodies can and should play in supporting arts and culture in  Malaysia, in particular since the Government has introduced tax incentives to encourage  contributions and sponsorships by corporations and private foundations. 

Tax deduction is provided for sponsoring local arts, cultural and heritage activities, while tax breaks  are provided for welfare assistance to arts and culture activists. The Ministry of Tourism and Culture  also held a special session on ‘How to Apply for a Corporate Tax Deduction’. 

Izan Satrina Mohd Sallehuddin, Founding CEO of CENDANA commented, “There is still much work to  be done to raise awareness and encourage more funding and support for the arts among Malaysia’s corporate bodies. In 2018, there were more than 1.2 million registered companies in Malaysia, but  less than 100 registered companies who contributed to the arts and made use of the tax deduction  for companies sponsoring local arts, cultural and heritage activities of up to RM1 million per year, as  approved by the Ministry of Tourism, Arts and Culture (MOTAC).” 

“Businesses should recognise that supporting arts and cultural programmes can help build their surrounding communities. The stronger the community, the better the business opportunities for a  company that engages with it. A city with a vibrant artistic and cultural scene often attracts and retains  better talent, and a company that is directly involved with that vibrancy is set up to better retain and  grow that talent. Businesses that support local arts and cultural organizations can add value to their  corporate brand and eventually, their bottom line,” Izan added. 

A first for the creative industries, was the special presentation titled ‘Overview of the Arts and Culture  Sector of Malaysia and its Future Outlook’ by Datuk Sri Dr. Mohd Uzir Mahidin, Chief Statistician  Malaysia, Department of Statistics Malaysia. He highlighted the Malaysian creative industries  contribute approximately two percent to the country's total Gross Domestic Product (GDP) and  employ around one million people. While the creative industry was significantly impacted by the  COVID-19 pandemic, Mohd Uzir shared that it is showing signs of recovery in the Third Quarter of 2020  with a growth percentage of 31.7 percent. 

He concluded his presentation by saying that the Malaysian Creative Industry needs the support from  all parties including government agencies and the private sector to contribute to its development. He  also added that a Satellite Account for the Malaysian Creative Industry is now being compiled by the  Department of Statistics Malaysia to further monitor its growth. 

Another highlight of the forum was a presentation by K Candra Negara, the Director for Inter Institutional Relations, Ministry of Tourism and Creative Economy Indonesia who shared insights  on how Indonesia cultivates its creative economy that now employs 16.2 million  people while contributing 7.8 percent to its GDP. 

There were also presentations from Think City managing director Hamdan Abdul Majeed who spoke  on creating collaborative partnerships as an effort to revitalize Malaysian cities and contemporary artist Red Hong Yi who shared her journey as an artist and her perspective on how corporates can be  more involved with Malaysian arts. 

Other notable speakers and panel members for the Forum included, Maybank Kim Eng Chief  Executive Officer (CEO) Ami Moris, Yayasan Sime Darby CEO Dr Hajjah Yatela Zainal Abidin, Media  Prima Television Networks CEO Datuk Khairul Anwar Salleh and protector of the Creador Foundation  Shanthi Kandiah, as well as, Managing Director of Yayasan Hasanah Shahira Bazari, Head  of Yoodo Chow Tuck Mun and Head of Academic Studies in Dance of the Hong Kong Academy for  Performing Arts Professor Joseph Gonzales. – The Vibes, October 21, 2020