Fahmi: 2027 Budget boosts M40, Malaysia's creative industry

Communications Minister Datuk Seri Fahmi Fadzil announced the 2027 Budget, which prioritizes middle-income households and bolsters Malaysia's creative industry. The budget significantly benefits the M40 group while providing support for B40 and T20 groups, including MSMEs. Fahmi emphasized the M40's advantage but vowed not to neglect the B40.

He highlighted specific assistance for T20, including micro- and small businesses. Fahmi announced a key Communications Ministry measure: entertainment duty exemption for local film screenings and theatre performances in the Federal Territories. This aims to boost cinema attendance in Malaysia, particularly for local productions.

The exemption begins next year and is part of broader efforts to encourage local arts and entertainment. Over RM130 million will support film, music, and creative content sectors through production incentives. Fahmi expanded the Filming in Malaysia Incentive (Fimi) to include local production companies and attract international productions.

The government hopes these measures will spur film production and offer Malaysians more locally produced content. Fahmi also endorsed National Information Dissemination Centres (Nadi) as catalysts for economic growth and entrepreneurship. He plans to organize a nationwide Nadi Open Day by year-end to discuss budget announcements and promote further initiatives for Nadi personnel.