At the opening of BroadcastAsia 2009, Singapore launched its Singapore Media Fusion Plan (SMFP). The plan builds on an earlier plan, Media 21, to strengthen the country's position in new media such as mobile TV. Singapore has earmarked S$230 million for the new plan, a 40 percent increase over the previous version.
The SMFP sets out three strategies to transform Singapore into a global new media capital as well as the world's gateway to Asian new media markets: provide the best environment for media business; leverage R&D to help the media sector exploit new opportunities in the digital media value chain; and enhance the international appeal of Singapore-made content, applications and services.
"The media sector is in the midst of dynamic change, driven by convergence and the rise of Asia as a content powerhouse and one of the most influential markets in the world," said Christopher Chia, CEO of Singapore's Media Development Authority. “The Singapore Media Fusion Plan is our response to the altered global landscape. It gears up Singapore companies to respond to the fresh opportunities in today's new world order by enabling the creation of new Asian media — be it content, services or applications — that resonate with the world, while leveraging Singapore's strengths and strategic location as an East-West gateway."