The Film Development Council (FDC) will implement measures to enhance the operation of the Film Development Fund (FDF) scheme from tomorrow (March 31). Applications for financing of film productions under the enhanced scheme are now invited.
The enhancement measures include:
- raising the upper limit of the production budget of a film project financed by the FDF from $12 million to $15 million;
- raising the upper limit of the contribution per film project from 30% to 35% and considering raising the contribution to 40% under very special circumstances;
- removing the 10 years' time-limit for the production of two completed films in respect of the applicant, the film director or producer;
- improving the layout of the application forms to facilitate applications; and
- allowing the applicant to buy back the copyright of the film from the Government five years after it has been theatrically released.
"These measures have taken into account the views of the industry and the experience of the operation of the FDF. They can better cater to the needs of the industry and enhance the user-friendliness of the scheme," the Chairman of the FDC, Mr Jack So, said.
"Film makers of small-to-medium budget productions are encouraged to make the best use of the financing facility to produce more quality films of different genres and help nurture new talent, thereby bolstering the long-term development of the local film industry," Mr So added.
Application forms and the guide to application are available at the FDC website (www.fdc.gov.hk/en/services/services2.htm).
Since its launch in October 2007, the FDF scheme for financing film production has received 23 applications, of which 14 were approved with a total funding of $38.77 million.
Tuesday, March 30, 2010