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Manila Bulletin devider Business devider DBM allocates P110 million to boost local creative sector

DBM allocates P110 million to boost local creative sector

Published Jul 2, 2024 06:31 am

The government will inject around P110 million into the country’s arts sector, such as game development and animation.

Department of Budget and Management Secretary Amenah F. Pangandaman has approved the issuance of a special allotment release order and its corresponding notice of cash allocation for the Malikhaing Pinoy Program by the Department of Trade and Industry (DTI).

The Malikhaing Pinoy Program is a DTI initiative that aims to harness Filipinos’ capabilities and creativity to promote economic growth and recovery from challenges.

In addition to game development and animation, the program also caters to various creative sectors such as furniture design, music, advertising, fashion design, film, and the visual arts.

The Philippine Creative Industries Development Act is anchored on the budget, which aims to sustain and expand the programs of the Philippine Creative Industries Council in areas such as talent development and training, networking, and promotions.

The budget will also support activities to be conducted this year, such as the Philippines Skills Framework, Creative Startup Hackathon, Lunsod Lunsad, Creative Voucher Program Study, Creative Incubation, Global Market Acceleration Initiatives, support to book publishing initiatives, FiestaKucha, Creative Industries Month, and Secretariat Services to the Council.

The creative industry is defined as those directly or indirectly involved in the creation, production and manufacturing, performance, broadcasting, communication, exhibition or distribution, and sale of works and other subjects.

“Investing in the Malikhaing Pinoy Program is a pivotal step towards helping realize President Ferdinand Marcos Jr.’s vision of a Bagong Pilipinas—a nation thriving through innovation and creativity, embodying the indomitable spirit of Filipinos,” Pangandaman said.

“This funding will greatly help in empowering our creative industries to scale new heights and contribute significantly to our nation’s economic and cultural revival,” she further said.

The P110 million budget was leftover from last year’s total budget of P360 million, of which P250 was initially released on August 17, 2023, based on the DTI request.

This budget was still valid for release, obligation, and disbursement until the end of 2024.

The creative economy expanded by 6.8 percent last year, translating to P1.72 trillion from P1.61 trillion recorded in 2022, according to the Philippine Statistics Authority.
 

Related Tags

Creative industy Philippine Creative Industries Development Act Department of Budget and Management (DBM)
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