Premier Cho: Boost private investment to strengthen cultural content industries

At Thursday's weekly Cabinet meeting, Premier Cho Jung-tai was briefed by the Ministry of Culture (MOC) on the government's efforts and achievements in building Taiwan's capacity for cultural content creation in the film and television industry. The premier said that the MOC has actively worked to establish a robust ecosystem for the film, television and music industries, and to share Taiwan's local stories, cultural diversity, democratic values, freedom and innovative spirit with the world. The ministry has also continued to nurture film and television talent, foster high-quality content production and promote Taiwanese cultural content internationally, with its long-term commitment to industry development producing results worthy of recognition.

Premier Cho noted that the MOC's film and television production grants have supported 607 projects to date, with total funding exceeding NT$5 billion (approximately US$155 million). Under the Development of the Cultural and Creative Industries Act, the film and television industry's designation as a national strategic industry allows investors in film and television projects to benefit from tax incentives. These incentives have helped spur NT$4.051 billion (approx. US$125.4 million) in total investment. Meanwhile, investments in the cultural and creative industries made through the National Development Fund have attracted more than NT$18.4 billion (approx. US$569.4 million) from the private sector. Over the past five years, Taiwan has also co-produced 123 film and television projects through joint ventures with international partners.

Premier Cho pointed out that public media is not only a vital public sphere in a democratic society, but also an important platform for cultural content innovation, talent cultivation and global outreach. He added that the Public Television Service (PTS) ensures the right of access to media for Taiwan's diverse communities by providing multilingual services, including in Taiwan Hakka and Taiwan Taigi (also known as Taiwanese), while also producing a wide range of high-quality programming for children and youths, thereby cultivating fertile ground for Taiwan's cultural development. The premier said these efforts merit greater support and investment.