Malaysia urges bankable status for intellectual property

Malaysia has urged governments to give intellectual property bankable status as part of a three-point proposal for the global creative economy. Communications Minister Datuk Seri Fahmi Fadzil presented the proposals at the Fifth World Conference on Creative Economy ministerial meeting in Jakarta.

Fahmi said creative and digital capabilities should be developed together. He also called for frameworks on responsible AI use in creative work that would keep human creators central to the process.

Access to finance remains difficult for creative businesses whose assets are largely intangible, he said. Creators often supply production services without retaining intellectual property ownership or its commercial value, while generative AI poses questions about copyright, fair payment and cultural authenticity.

Fahmi proposed closer international collaboration through co-productions, joint training, residencies and talent exchanges. Countries should also share data and measurement approaches to better capture the sector in national accounts, helping governments assess its contribution and shape policy, he said.

Malaysia is shifting towards owning and commercialising intellectual property rather than only producing content, Fahmi said. He cited co-production funds, matching grants and stronger talent development, alongside work on a National Film Policy and a National Music Policy.

The Thirteenth Malaysia Plan (2026–2030) identifies the orange economy as a new growth source. Fahmi said Malaysia's cultural and creative industries accounted for 6.8 per cent of gross domestic product in 2024, generated exports worth RM63 billion and supported more than 760,000 jobs.

He also announced the establishment of the Orange Economy Council, or Majlis Ekonomi Jingga, to guide the creative sector and advise on planning, implementation and monitoring. Industry will participate, with the Communications Ministry serving in its secretariat.