ICOF Incentive Continues Thru 2020: Now Including Project Development

June 01, 2020
By: David Fabros

The International Co-Prod Fund (ICOF) for international film productions looking to co- produce with Filipino producers is accessible through the end of 2020. Now on its second application cycle, ICOF now also covers Qualified Philippine Production Expenditure (QPPE) for project development (script development, location scouting, pre-production, etc.) in addition to the usual coverages for production and post-production for feature films, film documentaries and film animation projects. Submissions of application for Cycle 2 of the ICOF will be accepted until July 31, 2020.

Meanwhile, for the Film Location Incentive Program (FLIP) for international productions (film, documentaries, animation, television series, music videos, and web content), projects with only post-production work and animation will still be eligible for the rest of 2020, pending the relaxation of inbound travel restrictions due to the Coronavirus pandemic. While such government restrictions are still in effect, the Film Development Council of the Philippines (FDCP) launches its SAFE FILMING program that promotes world-compliant safety and health protocols for local and international productions to support them in the conduct of their work in the country.

The Covid-19 health crisis has affected every manner of living and work, but many have chosen to positivize the situation and look forward to continuing to do work in the context of the “new normal”. In the homefront, the FilmPhilippines Office has re-allocated some of its incentive funds to the Disaster/Emergency Assistance and Response (DEAR) program which supports local freelance film and audiovisual workers with wage subsidy and financial assistance. The Film Development Council of the Philippines has since began work on safety protocols and guidelines for the film and audiovisual community in cooperation with the national government and the different private sectors of the film and audiovisual industry for the resumption of work in the film and AV industry.