All around the world, the creative and cultural economy is talked about as an important and growing part of the global economy. The term refers to the socio-economic potential of activities that trade with creativity, knowledge and information. Governments and creative sectors across the world are increasingly recognizing its importance as a generator of jobs, wealth and cultural engagement. At the heart of the creative economy are the cultural and creative industries that lie at the crossroads of arts, culture, business and technology. What unifies these activities is the fact that they all trade with creative assets in the form of intellectual property (IP); the framework through which creativity translates into economic value.
The Creative Industry covers a wide range of economic activities relating to the creation and exploitation of intellectual properties and cultural heritage. The creative economy comprises of film, music, advertising, games, publishing, fashion and many more industries, all of which are significantly growing in terms of importance to Malaysia’s economy.
Unsurprisingly and based on the above, the Creative Industry is also recognized as one of the key economic contributors in the Economic Transformation Program (ETP) under the Communications Content and Infrastructure Sector creating vast range of business opportunities and employment.