FDCP Launches ASEAN Co-Production Fund at Busan International Film Festival
MANILA, PHILIPPINES, OCTOBER 30, 2020 — On a night centered around the celebration and excellence of Philippine Cinema at the Busan International Film Festival (BIFF), the Film Development Council of the Philippines (FDCP) introduced its latest program, the ASEAN Co-production Fund (ACOF), formed to further strengthen the Philippine Film Industry through international collaborations with neighboring countries in the ASEAN region.
Speaking during the virtual Philippine Cinema Night on October 27, FDCP Chairperson and CEO Liza Diño shared her excitement for the launch of ACOF. “With everyone inspiring us to go international, we are happy to announce our program, the ASEAN Co-production Fund, which will finally get us to the next level of collaborating with partners from the region by providing a funding of up to USD 150,000 for each project.”
Diño also thanked FDCP’s partners who helped launch the fund during trying times under a global pandemic, “With your support and partnership in these uncertain times, I can’t help but be reminded of why we are in the industry and the importance of building each other up for the love of Philippine Cinema.”
Launched under FDCP’s FilmPhilippines Office (FPO), ACOF is a financial incentive program focused on supporting feature-length film projects co-produced by Philippine and ASEAN production companies. Under the brand new program, local production companies accredited by the National Registry that are collaborating with ASEAN productions may receive a selective fund of up to USD 150,000 for their feature-length projects.
To receive eligibility for ACOF, the project must be a feature-length film above 80 minutes, have a director with ASEAN nationality (including the Philippines), must be wholly or at least partly made in the Philippines, and must spend at least 50% of the fund amount in the Philippines. The program is open to films of any genre. If eligible, the Philippine production company may apply during an open application cycle which takes place three times a year beginning January 2021. FDCP will award up to two applications per cycle.
Similar to the previously-launched Film Location Incentive Program (FLIP) and International Co-production Fund (ICOF), ACOF continues FDCP’s efforts to promote the Philippines as a central filming destination in the ASEAN region. Both FLIP and ICOF officially launched earlier this year and have now supported five films, three under FLIP and two under ICOF, during the first two opening cycles of both programs.
Distinct from FLIP and ICOF, however, ACOF is specifically focused on encouraging collaborations between the Philippines and neighboring countries within the ASEAN region. This includes the countries of Indonesia, Malaysia, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar, and Cambodia. Production companies may choose to apply and receive funding from one of the three financial incentive programs under FDCP depending on their needs and eligibility per project.
The three incentive programs form FPO’s banner program, FilmPhilippines. This program by FDCP was founded to promote the Philippines as a highly-viable filming destination for international productions. Alongside the FDCP National Registry and the Safe Filming program, the FPO aims to streamline international film collaboration processes and provide various forms of necessary services for filmmaking in the Philippines via the Film Location Engagement Desk (FLEX). With the launch of ACOF, the FDCP will be extending these services to its home in the global region.
To learn more about FilmPhilippines, visit www.filmphilippines.com.