Taiwan targets the creative industries

Nick | 19 May 2009, 08:16

Taiwan’s government has approved a strategy for the development of its creative industries and set a target of generating US$30 billion in economic activity by 2012.

The National Development Fund will provide NT$20 billion to establish a US$600 million venture capital fund and the government will provide direct investment worth US$820 million over four years. The money will be made available to support five key industries: television, film, music, digital content and crafts.

“The project is intended to generate more than 20 percent growth in media production value, create 200,000 jobs, triple overseas sales of media products, and stimulate local consumption of cultural and creative products and services,“ the CCA said.