Malaysia Launches CEDM To Drive Evidence-Based Policy, Growth
KUALA LUMPUR, July 23 (Bernama) -- Malaysia is strengthening the development of its creative economy through the launch of the Creative Economy Data Model (CEDM), which will serve as a foundation for policymaking, development planning, and more comprehensive, systematic, and evidence-based measurement of the sector's economic impact.
The model was launched by the Intellectual Property Corporation of Malaysia (MyIPO) in collaboration with the World Intellectual Property Organisation (WIPO) during the National Forum on the Launch of CEDM.
MyIPO director-general Yusnieza Syarmila Yusoff said the CEDM is designed to complement existing measurement frameworks by capturing the entire creative economy value chain, which is becoming increasingly dynamic due to digital transformation, emerging business models, and technological advancements such as artificial intelligence (AI).
"This collaborative initiative is expected to strengthen Malaysia's position as a nation that harnesses intellectual property, creativity, and innovation as key drivers of sustainable economic growth," she said in a statement following the forum here today.
She said the 2024 Cultural and Creative Satellite Account published by the Department of Statistics Malaysia (DOSM) showed that the creative economy contributed 6.8 per cent to the country's Gross Domestic Product (GDP), which is equivalent to about RM130.7 billion, while generating more than 760,000 jobs.
"These figures demonstrate that the creative economy has become one of the country's strategic sectors, playing an increasingly significant role in driving national economic growth," she said.
Yusnieza added that the initiative builds on the long-standing strategic collaboration between MyIPO and WIPO, which began with the implementation of the Malaysian Copyright-Based Industries Study in 2008, the country's first benchmark for measuring the contribution of copyright-based industries to the national economy.
"The initiative also supports the aspirations of the MyIPO NextGen Strategic Plan, which focuses on innovation-driven economic development, the commercialisation of intellectual property, and strengthening the competitiveness of the creative industry," she said.
The launch forum was attended by representatives from ministries, government agencies, creative industry players, academia, and international organisations to discuss new approaches to strengthening Malaysia's creative ecosystem.
-- BERNAMA
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