KUALA LUMPUR, Oct 14 — The Ministry of Communications and Multimedia (KKD) has identified several international video game companies with the potential to be based in the country and make Malaysia the Gaming Hub of Southeast Asia.

Its Minister, Fahmi Fadzil said the RM30 million allocated under Budget 2024 for the promotion of Malaysia as an e-sports industry hub would, hopefully, speed up the process of South Korean video game company NX3 Games spreading its wings here next year since it had voiced its willingness to do so.

"This will surely be a game-changer because for the ministry, especially MDEC (Malaysia Digital Economy Corporation), we see that the returns from these gaming companies to the country are huge and it’s for the long term.

"I believe that with this initiative, more international companies can be based in Malaysia,” he told reporters after officiating the launch of the Federal Territory-level National Sports Day celebration here today.

Yesterday, when tabling Budget 2024, Prime Minister Datuk Seri Anwar Ibrahim announced an allocation of RM30 million to encourage international video game companies or studies to invest in Malaysia in the development of digital products together with local talent.

NX3 Games, which focuses on publishing games, research and development as well as content design, had previously targeted opening its regional head office in Kuala Lumpur.

Meanwhile, Fahmi is also confident that the allocation of RM90 million under the Film in Malaysia Incentive (FIMI) will help film studies in the country, in addition to making Malaysia the filming destination for international films.

"Before the Covid-19 pandemic, we witnessed many film companies coming to Malaysia for film but the pandemic has had an effect, especially on several big studios like Iskandar Malaysia Studios Sdn Bhd,” he said.

Anwar announced that RM90 million will be allocated under the FIMI initiative to continue encouraging the production of international-standard films and RM10 million for the establishment of the MyCreative Matching Fund Scheme to support the efforts of young artists in producing creative projects.

Fahmi also said the allocation for the ministry under Budget 2024 increased by RM400 million compared to 2023 and described the allocation of RM2.85 billion as a huge amount that will give good returns to the people. — Bernama