Malaysia urges IP to be treated as bankable asset and calls for AI governance in creative sector

At the ministerial meeting of the Fifth World Conference on Creative Economy, Malaysia's Communications Minister Fahmi Fadzil put forward three key recommendations: to classify intellectual property as a bankable asset, to develop creative skills alongside digital competencies, and to set up transparent frameworks governing the responsible use of artificial intelligence in creative production. He called for deeper international cooperation through co-production funds, joint training and residency programmes, and shared measurement methods to capture the sector's contribution to jobs and GDP.

The minister noted that Malaysia is shifting from merely producing content to owning and commercialising IP, supported by co-production funds, matching grants, and upcoming national film and music policies. Under the Thirteenth Malaysia Plan, the orange economy contributed 6.8% of GDP in 2024, generated RM63 billion in exports and supported over 760,000 jobs. To steer this growth, the government has created the Orange Economy Council, which will advise on policy and include industry voices. Fahmi praised Indonesia's role in launching the WCCE and expressed Malaysia's eagerness to collaborate further.