Kuala Lumpur:The allocation of more than RM130 million under Budget 2027 for Malaysia's local film, music, and creative industries is aimed at enhancing the sector's economic contribution and fostering talent development.

According to BERNAMA News Agency, MyCreative Ventures highlighted that this government support will assist industry players in nurturing their talents, creating high-quality content, and building more resilient and sustainable creative businesses. In a statement, they emphasized the importance of extending creativity beyond mere production to generating greater economic value amid the growing influence of technology, digital content, and global competition.

Prime Minister Datuk Seri Anwar Ibrahim, while presenting Budget 2027 on October 9, announced the allocation with the objective of elevating Malaysia's image, creating job opportunities, and promoting Malaysian stories on a global scale. The budget also includes a full exemption of entertainment duty on tickets for local film screenings and theatrical performances in the Federal Territories. MyCreative Ventures noted that this measure is expected to stimulate demand for local works, increase public access to quality content, and boost the earnings of industry participants.

The initiative is seen as a step towards building a stronger domestic market, enabling Malaysian creative works and talents to widen their reach. MyCreative Ventures remains committed to supporting the development of the nation's creative economy through value creation, enhanced industry capabilities, and broader market access.

Additionally, the chairman of MyCreative Ventures Group, Datuk Muhammad Bakhtiar Wan Chik, stated that the allocation reflects the MADANI Government's ongoing commitment to evolving the creative industry into a competitive, high-value sector that significantly contributes to the national economy.