KUALA LUMPUR, Oct 14 — The Ministry of Communications and Multimedia (KKD) has identified several international video game companies with the potential to be based in the country and make Malaysia the gaming hub of Southeast Asia.
Its minister Fahmi Fadzil said the RM30 million allocated under Budget 2024 for the promotion of Malaysia as an e-sports industry hub would, hopefully, speed up the process of South Korean video game company NX3 Games to spread its wings here next year since it had voiced its willingness to do so.
“This will surely be a game-changer because for the ministry, especially MDEC (Malaysia Digital Economy Corporation), we see that the returns from these gaming companies to the country are huge and it is for the long term.
“I believe with this initiative, more international companies can be based in Malaysia,” he told reporters after officiating the launch of the Federal Territory-level National Sports Day celebration today.
Yesterday, when tabling Budget 2024, Prime Minister Datuk Seri Anwar Ibrahim announced a RM30 million allocation to encourage international video game companies or studies to invest in Malaysia in developing digital products together with local talent.
NX3 Games, which focuses on publishing games, research and development, and content design, had previously targeted opening its regional head office in Kuala Lumpur.
Meanwhile, Fahmi is also confident the RM90 million allocation under the Film in Malaysia Incentive (Fimi) will help film studies in the country and make Malaysia the filming destination for international films.
“Before the Covid-19 pandemic, we witnessed many film companies coming to Malaysia for film, but the pandemic has had an effect, especially on several big studios like Iskandar Malaysia Studios Sdn Bhd,” he said.
Anwar said the RM90 million will be allocated under Fimi to continue encouraging the production of international-standard films and RM10 million to establish the MyCreative Matching Fund Scheme to support the efforts of young artists in producing creative projects.
Fahmi added the allocation for the ministry under Budget 2024 increased by RM400 million compared to 2023 and described the allocation of RM2.85 billion as a huge amount which will give good returns to the people.
— Bernama
