Tk1,000cr package for artists, filmmakers, content creators to boost creative output

Musicians, filmmakers, content creators, performers and young athletes are set to benefit from a policy push in the proposed FY27 budget, which allocates Tk1,000 crore from multiple funding sources for the development of Bangladesh's creative economy while offering tax relief on key equipment and digital services.

The package includes a direct government allocation of Tk300 crore for the sector and another Tk500 crore expected to be mobilised through Bangladesh Bank's Corporate Social Responsibility (CSR) funds, according to the finance minister's budget speech today (11 June).

An additional Tk200 crore has been proposed for the "Notun Kuri Sports" programme, recognising sports as a key pillar of the creative economy and a potential source of employment and income generation.

Industry stakeholders say the measures could lower production costs, improve access to technology and encourage investment in creative industries with export and foreign currency earning potential.

"The government's decision to view creative work not merely as culture but as a driver of economic growth and foreign exchange earnings is a positive step," Dr Ahmedul Kabir, professor of Theatre and Performance Studies at Dhaka University, told The Business Standard.

However, he said financial incentives alone would not be enough, stressing the need to promote music, theatre, dance and other art forms from school and college levels through sustained policy support and cultural education.

He added that many students currently pursue performance-related disciplines solely to obtain degrees, as stable employment opportunities in the creative sector remain limited.

The budget also proposes launching a national branding initiative titled "Created in Bangladesh" to promote the country's creative products internationally, while supporting theatre, cultural heritage and internationally compliant studio facilities for the OTT industry.

Among the tax measures, the proposed budget removes the existing 5% regulatory duty on guitars, pianos, violins and other musical instruments and their components. It also cuts the import duty on cinematographic cameras and projector spare parts from 15% to 5%.

In another major relief, the proposed 15% VAT on services provided by content creators and freelancers has been fully exempted.

Nature and travel content creator Emrul Kausar Emon welcomed the VAT exemption but said further support was needed. 

"Most Bangladeshi content creators use high-end smartphones rather than professional cinema cameras. Tax incentives on advanced mobile devices would therefore have a greater impact on the industry," he said.

He also called for internationally standardised training programmes, particularly in artificial intelligence and digital content production, arguing that improved skills could significantly boost foreign currency earnings from platforms such as YouTube, Facebook and TikTok.

Although the development budgets for ministries linked to recreation, culture and sports have increased by around Tk212 crore in absolute terms compared with FY26, their combined share of the Annual Development Programme has declined from 0.81% to 0.69%.

The government aims to increase the creative economy's contribution to GDP from the current 0.17% to 1.5% through coordinated efforts involving the public, private and non-government sectors.

The creative economy broadly spans industries like film, performing arts, publishing, advertising, architecture, fine arts, handicrafts, design, software, video games, esports, and digital media.