Singapore launches Media Fusion Plan to take industry forward

Singapore upped the ante on its national media blueprint with the launch of the Singapore Media Fusion Plan (SMFP) this morning by RDM (NS) Lui Tuck Yew, Acting Minister for Information, Communications and the Arts, at the opening of BroadcastAsia 2009.

The plan builds on the previous Media 21 blueprint, calling for new initiatives to strengthen the media ecosystem; fuel the creation of innovative content and services with global appeal; and, develop world-class talents to support a thriving industry.

The SMFP supports the republic’s transition to a creative economy by laying the directions to transform Singapore into a trusted global capital for New Asia Media.

The SMFP sets out three strategies to propel the media sector forward. The first aims to provide the best environment for media business. The second leverages R&D to help the media sector exploit new opportunities in the digital media value chain. The final strategy calls for Singapore to remain connected to the world to enhance the international appeal of Singapore-made content, applications and services. Funds of S$230 million have been allocated to drive the initiatives under the Plan, representing a 40 per cent increase from Media 21

"The media sector is in the midst of dynamic change, driven by convergence and the rise of Asia as a content powerhouse and one of the most influential markets in the world. The Singapore Media Fusion Plan is our response to the altered global landscape. It gears up Singapore companies to respond to the fresh opportunities in today's new world order by enabling the creation of New Asia Media, be it content, services or applications, that resonate with the world, whilst leveraging on Singapore's strengths and strategic location as an East-West gateway," said Dr Christopher Chia, chief executive officer, Media Development Authority of Singapore (MDA).