Tengku Zafrul : Creative industry could make vital contributions to high-growth sectors
KUALA LUMPUR, Oct 6 — With the right approach, Malaysia's creative industry could make vital contributions to the high-growth sectors and industries such as education, science and innovation, said Finance Minister Tengku Datuk Seri Zafrul Aziz today.
“The creative economy has in fact become the competitive edge and growth of so many high-growth companies around the world,” he said in his keynote address at the Creative Economy 2021 Forum, in conjunction with Budget 2021.
A clear example of such a relationship can be seen in South Korea where the success of its film and music industries helped boost the global sales of its beauty and electronic products, and promoted their tourism industry to the world,” he noted.
“The creative economy is also an opportunity for us to promote our Malaysian arts, culture and heritage on the world stage.
“This time, we add our own success story by creating a sustainable, resilient and thriving creative economy that will help to promote Malaysia internationally,” he added, while stressing the need to do more to empower talents across the entire creative economy.
According to the United Nations Conference on Trade and Development (UNCTAD) report 2018, the Creative Economy is the fastest growing sector in the world economy with annual revenue generation of RM 9.34 trillion and global exports amounting to more than RM 1.04 trillion. This sector is expected to generate about 10% of world GDP in the coming years.
This opens up a golden opportunity for the Malaysian Creative Economy to drive economic growth and reveal the potential to become an important Creative Economy power on the world stage.
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