Creative economy to boost GDP

KUALA LUMPUR: A five-year action plan formulated by Kuala Lumpur as a Cultural and Creative City Report is set to increase the current Gross Domestic Products (GDP) contribution of KL from RM11.2 billion to RM19.4 billion.
Communications and Multimedia Minister Datuk Seri Salleh Said Keruak, who launched the report, said the creative economy is one of the most rapidly growing sectors of the world economy.
"It is highly transformative in terms of income generation, job creation and export earnings.
"At the same time, it also generates non-monetary value that reflects a nation's capacity to express itself artistically and creatively through its home-grown culture and heritage – be it films, music, literature, theatre and the arts, which can be shared with the world," Salleh said prior to launching the report today.
The report was undertaken by several parties including the Cultural Economy Development Agency (Cendana), Communications and Multimedia Ministry, Yayasan Hasanah, Yayasan Sime Darby, Think City, MyCreative Ventures, British Council Malaysia, Frost & Sullivan Malaysia, My Performing Arts Agency and Tom Fleming Creative Consultancy.
Salleh said there is even a direct link between the cultural sector and creative industries, whereby the cultural sector is the heartbeat of the creative economy.
"It is also the fuel to the creative sector and will nurture the soul of the nation."
Cendana chief executive officer Izan Satrina Mohd Sallehuddin said the report also outlines key sectors in the art scene, detailing the overview, challenges and opportunities; sharing case studies as well as providing an overview on what drives Malaysians to engage in the arts.