As part of its initiatives to broaden funding and technology capabilities, the south Indian film industry is looking for collaborations in Malaysia.
The media and entertainment conclave of FICCI and the Multimedia Development Corporation of Malaysia will sign a memorandum of understanding on Friday to create a common platform for the film and animation industries of the two countries.
Apart from IT products and service providers, about 200 animation companies are also members of Multimedia Development Corporation a government gency. Malaysia may employ over 13,000 people in the sector by 2012-end, said Dato’ Badlisham Ghazali, CEO of Multimedia Development Corporation.
“Globally the addressable outsourcing opportunity in the animation sector is about $800 million and most of the high-end work now goes to Japan and Korea in Asia. When both India and Malaysia go together, they can compete with the likes of Japan to tap the international market,” he added.
Along with Multimedia Development Corporation the Malaysian Film Production Association will also sign the agreement with FICCI’s entertainment division chaired by actor Kamal Haasan.
The collaboration deal will facilitate co-production opportunities, training and skilling, technology sharing such as post-production and digital intermediate work and distribution opportunities. The Malaysian government offers 17 fiscal incentive schemes including shooting permits, labour permits and funding opportunities, Ghazali said.
Apart from scenic locales for shooting, a few nations offer incentives, tax rebates and fund-raising options through local partners. India already has bilateral production treaties with countries such as UK, France, Italy, Germany and Brazil. Producers can sign up with local co-producers to avail state funds and incentives.