TECOM Investments holds board meeting

24 Jul 2012

DUBAI, UAE: TECOM Investments, the newly instituted Dubai Film and TV Commission, established under the directives of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, held its inaugural board meeting on Thursday, 19 July.

Confirmed board members alongside key stakeholders from the film production value chain in the public and private sector attended the session.

Headed by Jamal Al Sharif, chairman of Dubai Film and TV Commission, the discussion focused on the commission's mandate to increase local production and attract international players from both the film and TV sectors.

The commission also identified processes to decrease the cost of media production to enhance Dubai's attractiveness to regional and international production companies and film studios. Additionally, the board members identified a core priority to develop an incentive scheme that fosters local talent.

Jamal Al Sharif said: "Dubai's strategic approach to investment in the media industry has established the city as the regional trailblazer.

This approach has benefited both Dubai and the UAE at large. With the film industry in Dubai and the UAE on the threshold of tremendous growth, the commission will deliver a much-needed boost to the landscape. Furthermore, the timely decision to establish this body will offer both regional and international filmmakers an enabling platform to film in Dubai, which will in turn drive the growth of the local film and television industry."

Jamal Al Sharif added: "We also believe that incentivising film and TV productions targeting international audiences has increased the overall creative talent pool and resulted in 'fast-track' development of the resident and indigenous industry.

"We are confident that the initiatives of the Dubai Film and TV Commission will help develop a rich resource of industry-specific talent in the UAE."

Research indicates a strong growth in demand for production services in Dubai and interest from major international productions. Mission Impossible 4 recently drew the world's attention to Dubai, leading to an increase in film productions from China, India and Europe.

After 11 years of establishing media zones, with 15 media zones either announced or operational in the region, Dubai continues to offer the highest concentration of media zones than that of any city. It punches above its weight in terms of advertising expenditure, coming second only to Saudi Arabia.

Source: I-Net Bridge

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