FINAS Offering Incentive for Filming in Malaysia

CANNES: The National Film Development Corporation Malaysia (FINAS) is increasing its focus on the film industry as part of the newly unveiled "Film in Malaysia" incentive.

FINAS revealed its new plans during the Cannes Film Festival and Marche du Film 2012. The "Film in Malaysia" incentive will apply to both local film producers and foreign producers using Malaysia as a location for their productions and post-production work. A 30 percent cash rebate on audited in-country spend will be offered to those qualifying for the minimum spend criteria of approximately $1.6 million for foreign productions and $830,000 for Malaysian productions. The rebate disbursement will start from February 1, 2013.

Mohd Naguib Razak, the director-general of FINAS, said: “The Film in Malaysia Office and Incentive has been long overdue given that there is growing recognition that the talent pool and professional crew in Malaysia is vastly improving and we are host to a rich collection of locations and environments ideal for myriad filmmaking situations.”