Penang, November 9, 2024 – Today, Penang took a pivotal step in reinforcing Malaysia’s creative economy with a Memorandum of Understanding (MOU) signing ceremony held at The One Academy Penang, Straits Quay. The event, officiated by YB Wong Hon Wai, Penang State Executive Council Member for Tourism and Creative Economy, celebrated a partnership dedicated to propelling Malaysia’s creative industry through education, production, IP monetization, distribution, and legal protection.
During his address, YB Wong Hon Wai lauded the MOU as a landmark for the industry, acknowledging the collaborative efforts of The One Academy Penang, Creative Mentors Sdn. Bhd., Messrs Veon Szu & Kok Thye, Sculpture Environment Art Sdn. Bhd. (S.E.A), Creation at Work (CAW), and Main Play Creative PLT. He praised the initiative for aligning educational training with production experience, market access, and a strong legal foundation, ultimately setting the stage for substantial growth in Penang’s—and Malaysia’s—creative economy.
“This MOU marks a significant advancement for Malaysia’s creative industry and strengthens Penang’s role as a hub for innovation, creativity, and economic growth,” YB Wong stated. He further emphasized the importance of empowering local talent to create high-quality, Malaysian-produced intellectual property (IP), which not only honours Malaysian heritage but showcases unique stories, artistry, and vision on the global stage.
The MOU identifies five pillars to support Malaysia’s creative ecosystem:
1. Education – Building a solid educational framework to develop future creative leaders.
2. Production – Empowering local talent to produce distinctive, high-quality Malaysian IP.
3. Marketplace – Creating channels for IP monetization to attract investment and promote economic sustainability.
4. Distribution – Expanding local and international reach for Malaysian creative products.
5. Legal Protection – Ensuring robust IP rights to safeguard artists’ creativity.
These objectives underscore Penang’s ambitions to drive innovation, draw investment, and expand job opportunities within the creative sector. The State Government is committed to supporting initiatives that recognize creatives not only as cultural contributors but as essential economic drivers.
The event also featured a Masterclass on AI and copyright, where experts Mr Khaw Veon Szu and Mr Chifei Soong delved into the evolving relationship between artificial intelligence and intellectual property, equipping attendees with insights for navigating and innovating responsibly.
Concluding his address, YB Wong commended the organizations for their dedication to advancing Malaysia’s creative economy. “Together, you are reinforcing Malaysia’s position as a leader in the creative field and empowering our artists, designers, and innovators to drive cultural and economic growth on an international scale,” he noted.
This MOU signifies a robust future for Penang and Malaysia’s creative industry, creating a promising foundation for the nation’s creatives to thrive in a globalized, increasingly digital world.
