Creative Economy Strategic Action Plan launched

A five-year Creative Economy Strategic Action Plan has been launched tonight.

The plan was launched by Economic Minister Mohamed Saeed during a special ceremony held at Dharubaaruge.

The plan was formulated with the needs of creatives in mind.

Some of the initiatives included in the plan are:

• Expanding financial support and investment
• Using technology to develop creative fields
• Protecting all products
• Increasing market for products
• Investing in skills and learning
• Establishing workspaces for creative works

Speaking at the launching ceremony, Business Centre Corporation (BCC)’s Managing Director Ibrahim Ziyaau described the Creative Economic Strategic Action Plan as a source of hope for individuals who have been working in the creative field over the years, especially youths.

He underscored that the government was undertaking various efforts to develop a creative economy, adding Minister Saeed is among the individuals spearheading these efforts.

Ziyau also noted BCC was playing a crucial role in the efforts to establish a Creative Economy Fund and in this trajectory, expressed gratitude to all individuals involved in the work.

The Creative Economy Fund was also launched on Tuesday night. It provides funding up to MVR 100 million to female entrepreneurs.

Applications will be open from October 10 onward, with applicants eligible for funding between MVR 50,000 to MVR 300,000 to start their ventures. For start-ups, applicants may seek loans up to MVR 100 million as well.