KUALA LUMPUR, Oct 8 — Malaysia’s creative economy has significant potential to become a new driver of economic growth, particularly as digital technology enables local creative content to reach global markets.
The creative economy currently contributes about 6.8 per cent to the country’s Gross Domestic Product (GDP), with sectors such as film, music, animation, video games, e-sports, podcasts and digital content continuing to expand.
Digital platforms have also created new opportunities for Malaysian content creators and creative industry players to generate income through advertising, sponsorships, brand collaborations, product sales, streaming and affiliate marketing.
The government has established the Orange Economy Council to strengthen the creative industry ecosystem and provide greater support for the sector.
However, issues surrounding copyright and the use of artificial intelligence (AI) are emerging as key concerns, particularly when AI-generated content uses existing works or the identities of intellectual property owners.
The government is looking into these issues to ensure the rights of creators and intellectual property owners remain protected as AI technology becomes increasingly integrated into content production.
Meanwhile, eligible media organisations can also benefit from government support, including the RM30 million Media Innovation Fund, subject to the relevant eligibility requirements.
Creative industry players have also been encouraged to make use of tax relief facilities available through the Inland Revenue Board, including relief related to the purchase of business equipment.
The government said it remains open to engaging with content creators and industry associations to better understand their needs and challenges as Malaysia works to strengthen its creative economy.
-Bernama
