A pooled fund would soon be created after the implementing rules and regulations (IRR) of the Philippine Creative Industries Development Act (Pcida) was signed by Trade Secretary Alfredo E. Pascual.
“There is hereby established a Special Account in the General Fund with the National Treasury to be called the Creative Industry Development Fund [CIDF], herein referred to as the ‘Fund,’” Rule 24 of the IRR read.
The purpose of the Fund, the IRR said, is for the following: research and development; trade and investment promotion; human resource development in the creative industry; and, for the welfare of artists, workers and other stakeholders through business support organizations and creative workers associations.
The Pcida, or Republic Act (RA) 11904, would take effect 15 days after publication.
“The signing of this IRR is an important enabling measure to effectively execute the PCIDA towards transforming the creative industries to drive our economic recovery and fuel an inclusive and sustainable growth,” Pascual said last Monday.
The Trade chief said the law is expected to foster a collaborative environment for local creatives and the government.
“The IRR will promote a better work environment and livelihood for creative workers, improve education and access to financial support, develop industry data and statistics for policymakers, and harness other innovation efforts to help workers and firms in the ‘Creative Economy,’” said Pascual.
Potential ‘enormous’
PASCUAL also recognized the “enormous” potential of the Philippine creative industries to lead in the Asia-Pacific region, driving the country’s development and further enriching the country’s local culture.
Pascual said the creatives industry contribute almost 8 percent to the economy and employs 5 million workers. The industry accounts for 12 percent of the country’s total exports, he added.
Trade Undersecretary for Competitiveness and Innovation Rafaelita M. Aldaba said “creative industries present new opportunities and innovation prospects for creative and cultural workers.”
Aldaba said with the fusion of cultural richness, skilled content artists and creators, and new technologies, the creatives industry can act as the “prime catalyst” for disruption and innovation in the country.
In a statement issued last Tuesday, the Department of Trade and Industry (DTI) said the Pcida, which lapsed into law on July 28, mandates the development of a “vibrant” Philippine creatives industry by protecting and strengthening the rights and capacities of creative firms, artists, artisans, creators, creative workers, indigenous cultural communities, creative content providers, and other stakeholders.
Masterplan
THE implementation of the law would be monitored by a Philippine Creative Industries Development Council (PCIDC). The council will be chaired by the Trade Secretary and composed of the secretaries of four departments (education, science and technology, tourism and the interior and local government) and the head of the National Economic and Development Authority.
Also included in the committee are the chairmen of the Commission on Higher Education and the National Commission for Culture and the Arts and the director general of the Intellectual Property Office of the Philippines (IPOPHL). Private sector representatives from various creative domains would also be included in the council.
Apart from the PCIDC, the law also mandates the development of the Philippine Creative Industries Development plan (PCIDP).
According to the IRR, the plan shall include a 3-year, 6-year and 10-year development timeline for its vision, mission, goals and milestones.
Among the components of the plan are economic goals and key performance indicators for the creative industries, contribution to the gross domestic product (GDP), job creation, market creation and expansion and investment targets.
The IRR said the plan will include areas of possible strategic investments in the creative industries, which will provide an “enabling environment” for micro,small, and medium enterprises to compete and scale up their businesses.