JFC welcomes enactment of Creative Industries Development Act into law

The Joint Foreign Chambers in the Philippines (JFC) lauded the enactment of the Creative Industries Development Act, which they said would drive the country’s economic growth.

“RA 11904 is a much-awaited law that will spur the growth of a high-value sector already contributing over 7 percent of the country’s  GDP,” the foreign business groups underscored in a news statement released on Monday.

The foreign chambers added that the Creative Industries Development Act, which lapsed into law on July 28, recognizes creative industries as a distinct sector in the traditional sense of an industry cluster.

Moreover, the groups said, the newly-enacted law reaffirms the importance and natural competitive edge of Filipino creative talent.

The seven chambers also noted that by establishing a Philippine Creative Industry Development Council (PCIDC) mandated to formulate and implement the Philippine Creative Industries Development Plan, “the country will be better equipped to reap the economic and employment benefits from the diverse creative talents of Filipinos organized under the nine creative industry ‘domains’ identified in the law.”

The nine domains are Audiovisual Media, Digital Interactive Media, Creative Services, Design, Publishing and Printed Media, Performing Arts,Visual Arts, Traditional Cultural Expressions, and Cultural Sites.

The PCIDC would be responsible for growing the sector by monitoring key performance indicators on the short, medium and long-term basis.

According to Section 7 of RA 11904, among the mandates of the Council is to “Formulate and implement a Philippine Creative Industries Development Plan that shall define economic goals and key performance indicators for the creative industries including value creation, contribution to gross domestic product, job creation, market creation and expansion, whether domestic or international, investment targets, and creative intellectual property targets.”