Orange Economy Sector Has Potential To Spur Country's Economic Growth - Fahmi

PUTRAJAYA, Aug 1 (Bernama) -- The orange economy sector is a developing sector that has the potential to contribute to the country's economic growth, said Communications Minister Datuk Fahmi Fadzil.

Fahmi, who is also the MADANI Government spokesperson, said the sector, which includes creative industries such as film, music and animation, was included in the 13th Malaysia Plan (13MP) as a result of a proposal and engagement session between the Communications Ministry and the Economy Ministry.

“The Ministry of Economy has accepted and welcomed the proposal (orange economy) and has been included in the final document (13MP).

“This is a form of intervention and the engagement process has convinced the Ministry of Economy that the orange economy sector is a developing sector and has the potential to help in the growth of our country’s economy,” he said at a post-Cabinet Meeting press conference here today.

Fahmi said the Cabinet today also expressed appreciation to the Ministry of Economy for involving every minister and ministry in the engagement session for the preparation of the 13MP document.

Meanwhile, Fahmi said the 13MP is a five-year medium-term planning document and details of the specific benefits of the orange economy sector will be known when the MADANI 2026 Budget is presented this October.

“We will see what the details are (and) the specific benefits to the orange economy sector of the creative industry during the MADANI Budget presentation 2026,” he said.

Fahmi also welcomed the commitment of the National Film Development Corporation of Malaysia (FINAS) and MyCreative Ventures to help ensure that the film, music and animation industries receive full benefits under 13MP.

Yesterday, Prime Minister Datuk Seri Anwar Ibrahim, when tabling 13MP at Dewan Rakyat, said the government was committed to driving the growth of the creative economy through the high-potential digital creative industry.

According to Anwar, the Matching Fund and Joint Production Fund will be implemented to encourage joint investments between the government and the private sector in the production of world-class content.

“The country’s digital creative industry has generated income of RM6.3 billion, with an export value of RM850 million,” he said.

-- BERNAMA