Taiwan to inject NT$20 billion into cultural investment

11-Nov-2019 Intellasia | FocusTaiwan | 6:02 AM Print This Post

The Ministry of Culture (MOC) and its new affiliated administrative institution, the Taiwan Creative Content Agency (TAICCA), will launch two expansive plans from next year, each of which will be allocated NT$10 billion (US$329.32 million), the culture minister said Friday.

The move is an effort to boost Taiwan’s audiovisual and music industries and investment in Taiwanese culture, minister of Culture Cheng Li-chiun said during a ceremony held in Taipei to formally inaugurate the TAICCA.

The event was attended by President Tsai Ing-wen and TAICCA Chairwoman Ting Hsiao-ching, as well as representatives of cultural industries from home and abroad.

One of the two five-year plans will be carried out by the MOC’s Bureau of Audiovisual And Music Industry Development to promote the development of the country’s film, television and music industries, Cheng said.

The other, also starting next year, will involve the TAICCA beginning initiatives aimed at triggering private investment in Taiwan’s culture, using a NT$10 billion fund from the Cabinet-managed National Development Fund, she went on.

The Cabinet-approved five-year project, named “Huashan 2.0,” will see the expansion of the Huashan Creative Park in Taipei, Cheng said, noting that the expanded cultural content industry cluster will be operated by the TAICCA.

The new agency is tasked with “triggering the development of Taiwan’s new economy in the cultural area” by integrating the country’s technological strengths with its cultural content, accelerating the cross-field application of culture and technologies, and establishing a platform for innovative startups in the cultural content industry, the minister added.

Ting, meanwhile, addressed the agency’s four-pronged investment strategies — production, distribution, branding and industrial alliances.

The new agency has attracted investors in projects aimed at integrating relevant over-the-top (OTT) businesses in the development and production of Taiwanese content, encouraging the incubation of new Taiwanese brands, and accelerating the output of Taiwan-made films and TV programmes, she said.

At the TAICCA inaugural event, Cheng cited a 2018 survey report of the culture and innovative industries as saying that the number of people working in Taiwan’s culture industry amounted to 260,000 — over 1 percent of the entire population.

The industry’s output increased from NT$820 billion in 2016 to nearly NT$880 billion in 2018, a historic high, which Cheng said represents the beginning of the rise of the “Taiwan Trend” in the cultural arena.

In a speech at the ceremony, Tsai described the TAICCA as the national team in the development of the country’s cultural content.

She said the agency has been assigned three tasks — to serve as an intermediary organisation between the government and private industries; to integrate the nation’s cultural energy in an effort to support creative talent, produce cultural content and build a national cultural development platform; and to promote good Taiwanese work and talent around the world.

She expressed hope that TAICCA will help Taiwan become more and more active on the international stage.



Category: Taiwan

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