PETALING JAYA: The government has agreed to draft a law to regulate the music industry, a process expected to take two years, according to communications and digital minister Fahmi Fadzil.
He said his ministry agreed to formulate such legislation following a town hall session by the government investment company MyCreative Ventures, at which music industry activists highlighted the need to bring local creative products to the international level.
However, the proposed law would not touch on music royalties as the matter fell under the purview of the domestic trade and cost of living ministry, he said, Bernama reported.
“We are still at an early stage but we have accepted some suggestions, as an example, to create a body that can oversee the music industry,” he said.
MyCreative Ventures, a government-owned company invests in, or gives loans to, Malaysian creative companies. It has an investment fund of RM200 million allocated in the 2023 budget.
Ten people who created songs for the National Day and Malaysia Day received grants from the Digital Content Fund of up to RM50,000 from Fahmi at an event today. The 10 recipients were shortlisted from a total of 53 applications. - FMT
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