PENJANA’s RM225m allocation to aid arts, culture, entertainment and event industries


Kuala Lumpur, 27 July 2020- The arts, culture, entertainment and event industries have been thrown a lifeline via the allocation of RM225 million in overall value under the National Economic Recovery Plan (PENJANA) announced by Prime Minister, YAB Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd Yassin on June 5. MyCreative Ventures Sdn. Bhd. (MyCreative) announced that applications are now open for MyCreative’s own programmes designed under the PENJANA allocation.

“The allocation under PENJANA is greatly welcomed as it addresses the immediate needs of all within the industry, providing much-needed boost to a broad aspect of the creative economy. There is also an emphasis on digitalisation, growth and sustainability of the creative activities. What is more, this will complement our own initiatives for the Creative Industry for the next six months,” Minister of Communications and Multimedia, Dato’ Saifuddin Abdullah reaffirms his ministry’s commitment to supporting the Creative Industry.

According to Dato’ Saifuddin, their immediate focus will be on ensuring that every cent reaches the right hands as soon as possible with proper governance and integrity.

“l am confident that MyCreative and Unit Pelaksanaan Dan Koordinasi Stimulus Ekonomi Antara Agensi Nasional (LAKSANA) will ensure effective implementation and inclusivity, including women, young people and minorities, while exemplifying the advice of the Prime Minister in ensuring we do not allow red tape and bureaucracy to hinder Malaysia’s economic recovery,” he added.

For the six-month period from July to December 2020, MyCreative will focus on assisting creative businesses and activities transition to or incorporate more effectively digital and online opportunities.

The MyCreative programmes cover 10 creative sub-sectors: Content Creation (including Film, Broadcast & Streaming Content and Videogames), Music, Fashion, Performing Arts, Visual Arts, Literature, Traditional and Cultural Arts, Culinary Arts, Design and Creative Education.

Applicants can tap into a variety of schemes and initiatives such as Live Event Grants, Digital Marketing Grants, Matching Investments Schemes as well as very attractive Fast Track, Low- Interest Soft Loans. These measures will be further complemented and enhanced by MyCreative’s Creative Industry Digital Velocity Programme comprising digital marketing and promotion training, connectivity assistance and advisory services.

MyCreative have also arranged collaboration with the private sector, beginning with partnerships with Google, Facebook and Yes, to help players adapt to new normal through training in digital distribution methods and promotion, development of new business models and connectivity.

They prepared comprehensive guidelines in the form of FAQ sheets on each initiative as well as a hotline to facilitate applications and for ongoing communications support via its website or telephone.

-Money Compass