DBM releases P110 million for creative sector

MANILA, Philippines — The Department of Budget and Management (DBM) has released P110 million to boost the local creative sector and contribute to economic growth.

Budget Secretary Amenah Pangandaman has approved the issuance of a special allotment release order and its notice of cash allocation of P110 million to the Department of Trade and Industry.

The funding will support the implementation of the Malikhaing Pinoy Program which is aimed at harnessing the capabilities and creativity of Filipinos for economic recovery and growth.

The program promotes various sectors including game development, animation, furniture design, music, advertising, fashion design, film and visual arts.

Under the 2023 General Appropriations Act, the program secured P360 million. However, only P250 million was initially released in August last year.

As such, the request to release the remaining P110 million, which is still valid for release, obligation and disbursement until end-2024, was approved by the DBM.

Pangandaman said the budget release would sustain and expand the programs of the Philippine Creative Industries Council for the sector.

Areas to be covered include talent development and training, incubation and acceleration, networking and promotions, export development, intellectual property, research and development, establishment of creative clusters and hubs, policy advocacy and market access.

Overall, the program supports the implementation of the Philippine Creative Industries Development Act.

The industry includes those directly or indirectly involved in the creation, production and manufacturing, performance, broadcasting, communication, exhibition or distribution and sale of works and other subjects.

The program encompasses knowledge expansion, development, growth and sustainability in the local creative scene.