Economy
Inflationary Pressures Hamper Business Operations as PMI Remains Under 50 Points
By Aduragbemi Omiyale
The Stanbic IBTC Purchasing Managers’ Index (PMI) has shown that the manufacturing sector in Nigeria has remained depressed below the 50-point mark for November 2024, though there is an improvement.
In its latest reading, it was disclosed that it was at 49.6 points compared with 46.9 points in October 2024, attributing this to inflationary pressures.
Business Post reports that readings above 50.0 signal an improvement in business conditions in the previous month, while readings below 50.0 show deterioration.
It was revealed that business operations in the Nigerian private sector have been hampered as employment was down and companies continued to lower their purchasing amid steep price pressures.
The firm stated that the less pronounced deterioration in business conditions in part reflected a renewed expansion in new orders, which rose slightly following a solid fall in October.
Although there were some tentative signs of demand improving, companies reported that customers were often deterred by high prices. The inflationary environment and muted demand conditions meant that business activity continued to fall, the fifth month running in which that has been the case.
The Head of Equity Research West Africa at Stanbic IBTC Bank, Mr Muyiwa Oni, said, “The Nigerian private sector activities deteriorated further in November, albeit at a less pronounced rate relative to October.
“This less pronounced deterioration was primarily due to the return to growth of new orders in November, after having decreased solidly in October. Notably, new orders have now risen in three of the past four months, although the latest expansion was only modest.
“Some panellists saw signs of demand picking up, but others reported that high costs again acted to deter customers. Elsewhere, higher energy prices, increases in the cost of raw materials, and lingering currency weakness continue to lead to intensification of price pressures in November.
“Thus, input prices increased at a substantial rate again during November, with the pace of inflation only slightly lower than that seen in October and remaining one of the sharpest on record. In Q3:24, the Nigerian economy grew by 3.46% y/y relative to 3.19% y/y growth in Q2:24. Notably, the non-oil sector grew by 3.37% y/y in Q3:24 from 2.80% y/y in Q2:24, albeit with uneven performance across the sub-sectors that make up the non-oil sector. ICT, finance & insurance, trade, road transport, and agriculture were the key growth drivers of the non-oil sector in the review period.
“Nonetheless, there appears to be a disconnect between the composite PMI and non-oil GDP growth in recent quarters, with this disconnect more pronounced in Q3:24 when the PMI for the quarter weakened to 49.6 points – a sign of deterioration in business conditions – while non-oil GDP growth was strong in the review period.
“Historically, the non-oil GDP growth is mildly negative whenever the composite PMI is below the 50-point no-change mark. We expect the economy to maintain the Q3:24 growth momentum in Q4:24, supported by a festive-induced increase in economic activity and sustained improvement in crude oil production.
“Indeed, based on the November PMI survey results, companies reported some tentative signs of demand improving although some customers were deterred by high prices. On balance, we estimate the economy to grow by 3.24% y/y in real terms in Q4:24 and adjust our 2024 growth estimate upward to 3.2% (previously: 3.1%).
“The latest reduction was only marginal, however. Sector data pointed to increases in output in agriculture and manufacturing but decreases in wholesale & retail and services. Purchase costs rose rapidly again in November amid currency weakness and higher prices for fuel and raw materials. Although slowing slightly for the second month running, the pace of inflation remained elevated. Staff costs were also up as companies helped their workers with higher living and transportation costs,” he said.
Opens to the Public on December 4 Sparking Inspiration With a Line-up of Design Events
HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Hong Kong Design Centre’s (HKDC) new landmark, DX design hub (the Hub) successfully concluded its Launching Party today. The celebratory event was attended by guests comprising of top government officials, business leaders and Mainland and France delegations. The Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision of the Hub while HKDC is responsible for operating the Hub.
To ensure the success of the DX design hub launching party, all partners have played pivotal roles, including the Lead Sponsor, CCIDA; Venue Partner, Urban Renewal Authority; 5G Strategic Partner, Hutchison Telecommunications Hong Kong Holdings Limited; Media Partner, Timeout; Online Promotion Partner, Timable; and Strategic Lifestyle Media Partner, Trip.com Group.
Prof. Eric Yim, Chairman of HKDC shared: “The ‘D’ in DX design hub stands for design and diversified design disciplines, while ‘X’ signifies ‘multiply’ and ‘crossover’. The launch of DX design hub is an important milestone for Hong Kong Design Centre. We hope that through DX design hub, we can foster communications and collaborative partnerships across the various creative and design fields, as well as between the wider creative design industry and the business sector. This will enrich Hong Kong’s creative culture, and encourage problem-solving and decision-making through design thinking, thereby amplifying the power and ubiquity of design throughout our society. DX design hub will create a space for everyone to immerse themselves in design and creativity, and offer emerging designers and creative workers opportunities for development and showcasing their talents.”
Mr. Kevin Yeung Yun-hung, GBS, JP, Secretary for Culture, Sports and Tourism, shared: ‘We hope that DX design hub would become a creative anchor and tourist landmark in Hong Kong, bringing new vitality into the city’s design and fashion industries. With the release of Blueprint for Arts and Culture and Creative Industries Development from HKSAR government last weeke, stting a clear vision and direction for the future development of cultural arts and creative industries in Hong Kong, We look forward to Hong Kong Design Centre continuing to support the HKSAR government to promote the robust development and industrialisation of the creative sector, further enhancing the influence of Hong Kong’s design and fashion industries on the international stage, and consolidating Hong Kong’s role East-meets-West centre for international cultural exchange.’
Industry Associations and Sectors Join Hands to Foster Innovation and Exchange
At the launching event, HKDC is delighted to announce a momentous step towards enhanced industry collaborations through the DX design hub by signing the Memorandum of Understanding (MOU) with different industry associations and sectors, signifying a commitment to foster innovation, exchange, and development within the design community.
Among the signatories are distinguished organizations such as ECI Awards, Graphic Arts Association of Hong Kong, Golden Mouse Award, Guangzhou Baiyun District Guangzhou Design Capital Promotion Association, Guangzhou 4A Integrated Marketing Communication Committee, Hong Kong Architecture Centre, Hong Kong Association for VR AR, Hong Kong Chamber of Commerce in Shanghai, Hong Kong Fashion Designers Association, Hong Kong Furniture and Decoration Trade Association, International eXperience Design Committee, Royal Institute of British Architects (Hong Kong Chapter), The Professional Validation Council of Hong Kong Industries, Textile Council Of Hong Kong, and Trip.com Group, all of whom have also joined this collaboration.
A New Design Landmark in Sham Shui Po
As a hub for both design talents and general public, DX design hub shoulders the important task of inspiring design creativity. Its design and ethos honours the rich and multicultural heritage of the Sham Shui Po district as a traditional hotspot for clothing and textile wholesale and retail. It aims to inject positive momentum into the fashion and creative design industries by striving towards three main objectives: nurture emerging design talent and fashion designers in Hong Kong; leverage Sham Shui Po’s heritage to become a focal point for design and fashion both within the district and throughout the city; and further the development of tourism in Sham Shui Po.
Located at 280 Tung Chau Street, Sham Shui Po, the Hub spans five levels from the ground floor to the fourth floor and occupies a total area of 3,600 square meters. The fourth floor will serve as the headquarters for HKDC, while the ground floor to the second floor comprise the publicly accessible zones: The Square, The Fashion-Pop, The Gallery, The Box, The Design Museum, The Annex and The Steps. Designated zones on the third floor, including The Lounge, The Barn, and The Fashion Spotlight will function as a comprehensive resource centre for the design community. The wide-ranging facilities in the Hub will support a diverse programme of transdisciplinary design-related activities such as exhibitions, workshops and seminars. These facilities aim to make design more accessible to the public, facilitate communications and resource sharing within the design and creative sectors, and cultivate creative and collaborative opportunities for society at large.
Opening to the public on 4 December, the Hub will be kicking off numerous design-related programmes from the time being to next year. Its key programme, the ‘GBA Creative Fortnight‘, will take place from 3 to 16 December, a two-week long event dedicated to amplifying Hong Kong’s design prowess and sparking collaborations throughout the Guangdong-Hong Kong-Macao Greater Bay Area, with exhibitions, product showcases, fashion shows, design business matchmaking events, and a host of other engaging activities. Together with the opening of the Business of Design Week 2024 Summit on 4 December, alongside a series of design-related activities organized by the HKDC throughout December, a vibrant atmosphere of creativity and design will be brought to the city of Hong Kong.
Besides the GBA Creative Fortnight, other upcoming events taking place at the Hub include:
| Permanent Exhibition：Hong Kong Design Ecology
Date: Launching from 3 December 2024 An exhibition presents the unique, diverse, and vibrant facets of Sham Shui Po, co-created with artists, students, and community members |
| Fashion Exhibition: Takuma Fujisaki’s Mogols: Hong Kong Fashion Collaboration with FIP & DIP
Date: 7 December 2024 to 6 March 2025 A collaborative exhibition between acclaimed Japanese pop culture artist Takuma Fujisaki’s beloved Mogol characters, and 12 FDIP local Hong Kong fashion designers. |
| Immersive Experience: Convergence
Date: 3 December 2024 – 28 February 2025 An exhibition offering visitors a visual journey into the hybrid design culture and design legacy of Hong Kong and Asia, where ‘Old meets New,’ ‘East meets West,’ and ‘Future influenced by legacy’. |
| Design Exhibition: Design Pulse Asia
Date: 13 December 2024 to 30 June 2025 A half-year-long exhibition delves into the unique heritages, diverse trajectories, and cultural exchanges shaping Asia’s design landscape. |
| Creative Installation: BEing
Date：3 December 2024 – 30 April 2025 The exhibition showcases the unique, diverse, and vibrant aspects of Sham Shui Po, emphasizing community participation by inviting artists, students, and residents to collaborate in the creation process. |
Visitor Information
| Opening Hours: | Monday to Sunday: 10:00 – 19:00
Operating hours may vary for some venues due to special events. Please check with each venue for the most up-to-date information. |
| Location: | DX design hub 280 Tung Chau Street, Sham Shui Po |
Hashtag: #HongKongDesignCentre
The issuer is solely responsible for the content of this announcement.
About DX design hub
Operated by Hong Kong Design Centre, DX design hub in Sham Shui Po nurtures emerging design talents and fashion designers, fostering creativity and collaboration. Showcasing the synergy between design disciplines, it serves as a vibrant platform for community engagement and creative tourism. The Hub offers exhibition spaces, activity spaces, and a retail area for designers to gain hands-on experience. It functions as a central workstation for HKDC and design-related Associations, leading initiatives to promote fashion and diverse design projects. With a mission to inspire creativity and innovation, we aim to enable the Hub to become the creative anchor in Hong Kong with various specialized zones including The Square, The Fashion-Pop, The Box, The Gallery, The Design Museum, The Annex, The Steps, The Lounge, The Barn and The Fashion Spotlight.
The construction work of the Hub is undertaken by the Urban Renewal Authority (URA), ensuring a state-of-the-art facility that supports our vision. The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision, guiding the Hub’s initiatives to align with industry needs and aspirations.
About Hong Kong Design Centre (www.hkdesigncentre.org)
Hong Kong Design Centre is a strategic partner of the Government of the Hong Kong Special Administrative Region in leveraging the city’s East-meets-West advantage to create value from design.
To achieve our goals we:
- Cultivate a design culture
- Bridge stakeholders to opportunities that unleash the value of design
- Promote excellence in various design disciplines
About Cultural and Creative Industries Development Agency (www.ccidahk.gov.hk)
The Cultural and Creative Industries Development Agency (CCIDA) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating startups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East meets-West centre for international cultural exchange under the National 14th Five-Year Plan.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to some of HKDC’s activities/projects only, and does not otherwise take part in such funded activities/projects. Any opinions, findings, conclusions or recommendations expressed in this publication and relevant materials/events (or by members of the project teams) are those of HKDC only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Opens to the Public on December 4 Sparking Inspiration With a Line-up of Design Events
HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Hong Kong Design Centre’s (HKDC) new landmark, DX design hub (the Hub) successfully concluded its Launching Party today. The celebratory event was attended by guests comprising of top government officials, business leaders and Mainland and France delegations. The Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision of the Hub while HKDC is responsible for operating the Hub.
To ensure the success of the DX design hub launching party, all partners have played pivotal roles, including the Lead Sponsor, CCIDA; Venue Partner, Urban Renewal Authority; 5G Strategic Partner, Hutchison Telecommunications Hong Kong Holdings Limited; Media Partner, Timeout; Online Promotion Partner, Timable; and Strategic Lifestyle Media Partner, Trip.com Group.
Prof. Eric Yim, Chairman of HKDC shared: “The ‘D’ in DX design hub stands for design and diversified design disciplines, while ‘X’ signifies ‘multiply’ and ‘crossover’. The launch of DX design hub is an important milestone for Hong Kong Design Centre. We hope that through DX design hub, we can foster communications and collaborative partnerships across the various creative and design fields, as well as between the wider creative design industry and the business sector. This will enrich Hong Kong’s creative culture, and encourage problem-solving and decision-making through design thinking, thereby amplifying the power and ubiquity of design throughout our society. DX design hub will create a space for everyone to immerse themselves in design and creativity, and offer emerging designers and creative workers opportunities for development and showcasing their talents.”
Mr. Kevin Yeung Yun-hung, GBS, JP, Secretary for Culture, Sports and Tourism, shared: ‘We hope that DX design hub would become a creative anchor and tourist landmark in Hong Kong, bringing new vitality into the city’s design and fashion industries. With the release of Blueprint for Arts and Culture and Creative Industries Development from HKSAR government last weeke, stting a clear vision and direction for the future development of cultural arts and creative industries in Hong Kong, We look forward to Hong Kong Design Centre continuing to support the HKSAR government to promote the robust development and industrialisation of the creative sector, further enhancing the influence of Hong Kong’s design and fashion industries on the international stage, and consolidating Hong Kong’s role East-meets-West centre for international cultural exchange.’
Industry Associations and Sectors Join Hands to Foster Innovation and Exchange
At the launching event, HKDC is delighted to announce a momentous step towards enhanced industry collaborations through the DX design hub by signing the Memorandum of Understanding (MOU) with different industry associations and sectors, signifying a commitment to foster innovation, exchange, and development within the design community.
Among the signatories are distinguished organizations such as ECI Awards, Graphic Arts Association of Hong Kong, Golden Mouse Award, Guangzhou Baiyun District Guangzhou Design Capital Promotion Association, Guangzhou 4A Integrated Marketing Communication Committee, Hong Kong Architecture Centre, Hong Kong Association for VR AR, Hong Kong Chamber of Commerce in Shanghai, Hong Kong Fashion Designers Association, Hong Kong Furniture and Decoration Trade Association, International eXperience Design Committee, Royal Institute of British Architects (Hong Kong Chapter), The Professional Validation Council of Hong Kong Industries, Textile Council Of Hong Kong, and Trip.com Group, all of whom have also joined this collaboration.
A New Design Landmark in Sham Shui Po
As a hub for both design talents and general public, DX design hub shoulders the important task of inspiring design creativity. Its design and ethos honours the rich and multicultural heritage of the Sham Shui Po district as a traditional hotspot for clothing and textile wholesale and retail. It aims to inject positive momentum into the fashion and creative design industries by striving towards three main objectives: nurture emerging design talent and fashion designers in Hong Kong; leverage Sham Shui Po’s heritage to become a focal point for design and fashion both within the district and throughout the city; and further the development of tourism in Sham Shui Po.
Located at 280 Tung Chau Street, Sham Shui Po, the Hub spans five levels from the ground floor to the fourth floor and occupies a total area of 3,600 square meters. The fourth floor will serve as the headquarters for HKDC, while the ground floor to the second floor comprise the publicly accessible zones: The Square, The Fashion-Pop, The Gallery, The Box, The Design Museum, The Annex and The Steps. Designated zones on the third floor, including The Lounge, The Barn, and The Fashion Spotlight will function as a comprehensive resource centre for the design community. The wide-ranging facilities in the Hub will support a diverse programme of transdisciplinary design-related activities such as exhibitions, workshops and seminars. These facilities aim to make design more accessible to the public, facilitate communications and resource sharing within the design and creative sectors, and cultivate creative and collaborative opportunities for society at large.
Opening to the public on 4 December, the Hub will be kicking off numerous design-related programmes from the time being to next year. Its key programme, the ‘GBA Creative Fortnight‘, will take place from 3 to 16 December, a two-week long event dedicated to amplifying Hong Kong’s design prowess and sparking collaborations throughout the Guangdong-Hong Kong-Macao Greater Bay Area, with exhibitions, product showcases, fashion shows, design business matchmaking events, and a host of other engaging activities. Together with the opening of the Business of Design Week 2024 Summit on 4 December, alongside a series of design-related activities organized by the HKDC throughout December, a vibrant atmosphere of creativity and design will be brought to the city of Hong Kong.
Besides the GBA Creative Fortnight, other upcoming events taking place at the Hub include:
| Permanent Exhibition：Hong Kong Design Ecology
Date: Launching from 3 December 2024 An exhibition presents the unique, diverse, and vibrant facets of Sham Shui Po, co-created with artists, students, and community members |
| Fashion Exhibition: Takuma Fujisaki’s Mogols: Hong Kong Fashion Collaboration with FIP & DIP
Date: 7 December 2024 to 6 March 2025 A collaborative exhibition between acclaimed Japanese pop culture artist Takuma Fujisaki’s beloved Mogol characters, and 12 FDIP local Hong Kong fashion designers. |
| Immersive Experience: Convergence
Date: 3 December 2024 – 28 February 2025 An exhibition offering visitors a visual journey into the hybrid design culture and design legacy of Hong Kong and Asia, where ‘Old meets New,’ ‘East meets West,’ and ‘Future influenced by legacy’. |
| Design Exhibition: Design Pulse Asia
Date: 13 December 2024 to 30 June 2025 A half-year-long exhibition delves into the unique heritages, diverse trajectories, and cultural exchanges shaping Asia’s design landscape. |
| Creative Installation: BEing
Date：3 December 2024 – 30 April 2025 The exhibition showcases the unique, diverse, and vibrant aspects of Sham Shui Po, emphasizing community participation by inviting artists, students, and residents to collaborate in the creation process. |
Visitor Information
| Opening Hours: | Monday to Sunday: 10:00 – 19:00
Operating hours may vary for some venues due to special events. Please check with each venue for the most up-to-date information. |
| Location: | DX design hub 280 Tung Chau Street, Sham Shui Po |
Hashtag: #HongKongDesignCentre
The issuer is solely responsible for the content of this announcement.
About DX design hub
Operated by Hong Kong Design Centre, DX design hub in Sham Shui Po nurtures emerging design talents and fashion designers, fostering creativity and collaboration. Showcasing the synergy between design disciplines, it serves as a vibrant platform for community engagement and creative tourism. The Hub offers exhibition spaces, activity spaces, and a retail area for designers to gain hands-on experience. It functions as a central workstation for HKDC and design-related Associations, leading initiatives to promote fashion and diverse design projects. With a mission to inspire creativity and innovation, we aim to enable the Hub to become the creative anchor in Hong Kong with various specialized zones including The Square, The Fashion-Pop, The Box, The Gallery, The Design Museum, The Annex, The Steps, The Lounge, The Barn and The Fashion Spotlight.
The construction work of the Hub is undertaken by the Urban Renewal Authority (URA), ensuring a state-of-the-art facility that supports our vision. The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision, guiding the Hub’s initiatives to align with industry needs and aspirations.
About Hong Kong Design Centre (www.hkdesigncentre.org)
Hong Kong Design Centre is a strategic partner of the Government of the Hong Kong Special Administrative Region in leveraging the city’s East-meets-West advantage to create value from design.
To achieve our goals we:
- Cultivate a design culture
- Bridge stakeholders to opportunities that unleash the value of design
- Promote excellence in various design disciplines
About Cultural and Creative Industries Development Agency (www.ccidahk.gov.hk)
The Cultural and Creative Industries Development Agency (CCIDA) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating startups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East meets-West centre for international cultural exchange under the National 14th Five-Year Plan.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to some of HKDC’s activities/projects only, and does not otherwise take part in such funded activities/projects. Any opinions, findings, conclusions or recommendations expressed in this publication and relevant materials/events (or by members of the project teams) are those of HKDC only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Economy
IMDA Refreshes Skills Framework for Media and Continues to Support Virtual Production Capabilities and Training
– New company-led apprenticeship programme with media companies to expand job and training opportunities in the industry
– 28 Virtual Production projects supported, and 650 media professionals trained to date under the Virtual Production Innovation fund
SINGAPORE – Media OutReach Newswire – 4 December 2024 – The Infocomm Media Development Authority (IMDA) has worked closely with the media industry to introduce a refresh to the Skills Framework for Media, which will provide up-to-date sector information, job roles and existing and emerging skills for media practitioner, in new tech areas such as Virtual Production (VP) and Generative Artificial Intelligence (GenAI). To provide locals with more job and training opportunities in new tech areas, another new initiative is the company-led apprenticeship programme with media companies.
2. IMDA has been advancing VP applications in Singapore’s media industry since 2023. To date, there have been 28 VP content projects, and 650 media professionals trained in VP through these content projects and workshops, supported by the S$30 million VP Innovation Fund announced last year. These updates were made by Singapore’s Senior Minister of State for Digital Development and Information (MDDI) & Ministry of National Development (MND), Mr Tan Kiat How at the opening of the Asia TV Forum and Market (ATF) today, an event of the Singapore Media Festival (SMF). Hosted by IMDA, the SMF celebrates its 11th edition with the theme “Make It Here“, inspiring the region’s media community to create, connect, and realise their visions.
Refreshed Guide for the Future of Media Careers
3. As Singapore’s media market expands, employment opportunities are also on the rise. There were 24,960 media professionals employed across the economy in 2023, reflecting a compound annual growth rate of 7% since 2018[1]. The refreshed Skills Framework for Media provides a comprehensive roadmap for these media professionals, charting the future of media careers and talent development. This framework was developed by IMDA in partnership with SkillsFuture Singapore (SSG), industry associations like the Singapore Association of Motion Picture Professionals, Institutions of Higher Learning (IHLs), after extensive consultation with around 150 media representatives across industry, training providers, IHLs and freelancers. This ensures the framework meets the needs of a dynamic media landscape.
4. The refreshed Skills Framework identifies 195 job roles across 9 tracks, with 230 technical skills and competencies in existing and emerging skills in Media like VP, GenAI, content production, production technical services, and more. Media practitioners can use the Skills Framework to upskill and remain relevant in today’s media landscape, while employers and training providers can tap on it to structure learning and training opportunities. The framework was first launched in 2018 jointly by IMDA, SSG, Workforce Singapore (WSG) and in consultation with Singapore’s media industry.
5. IMDA will also offer more company-led on-the-job training opportunities through apprenticeships with media companies in line with the new skills added into the refreshed framework including VP. This is a new initiative and, as a start, IMDA will partner seven media companies to offer over 70 apprenticeship opportunities across content production, business management and technical roles that will further deepen practical skills development and ensuring talent is industry ready.
6. In his opening speech, SMS Tan Kiat How said, “The Asia TV Forum and Market and the Singapore Media Festival are platforms for networking and collaborations. As Asia’s entertainment content industry grows, Singapore will be your partner to tell our stories to the world, and for the world to find discover the talents and gems in Asia. Today, we are taking an important step to do so by investing in the future of media – our media professionals so that they are equipped with the right skills, technology, and platforms to excel in this dynamic industry.”
New Virtual Production Projects and Talent Supported
7. The use of VP in Singapore’s media industry continues to progress with the launch of three full-scale VP studios that can support international projects developed with VP technology. These are Aux Infinite Studios, Oceanus Media Global and X3D Studio and they are also providing VP training. Next year, media professionals can look forward to specialised training opportunities for job roles such as VP supervisors from local and overseas VP experts.
8. There have also been 28 VP content projects which leveraged VP technology to open creative possibilities and overcome physical limitations. For example, film director Ian Wee from Reelisations Pte Ltd tapped on VP in his latest content project “Time Apart”, to execute challenging time lapse sequences across different time periods. Ian was a participant of the National Film and Television School (NFTS) Certificate in Virtual Production course in April 2023. Another example, Glenn Chan from Sonder Films used 3D scanning technology to develop and integrate 3D CGI characters into virtual environments for his short-form VP project “The Old World”. Glenn was a participant of the Aux-XON SG x Korea VP Masterclass conducted earlier this year.
9. For more details on the Singapore Media Festival and the Asia TV Forum and Market please visit www.imda.gov.sg/smf. To read the latest Skills Framework for Media, visit https://www.imda.gov.sg/how-we-can-help/media-manpower-plan/skills-framework-for-media-sfw-for-media.
Hashtag: #SGMediaFest
https://www.imda.gov.sg/smf
https://www.linkedin.com/company/imdasg
https://www.instagram.com/imdasg
The issuer is solely responsible for the content of this announcement.
About the Singapore Media Festival
The Singapore Media Festival, hosted by the Infocomm Media Development Authority (IMDA), proudly returns for its 11th edition as one of Asia’s premier international media industry platforms. From 28 November to 8 December 2024, Singapore will be the focal point for Asia’s media community, showcasing diverse media innovations, forging industry deals, and presenting Singapore’s world-class content. This year’s festival, themed “Make It Here,” aims to inspire the region’s media talent to create, connect, and realise their visions. The event will bring together media professionals, industry leaders, creators, and consumers through the Singapore International Film Festival (SGIFF), Asia TV Forum & Market (ATF), Singapore Comic Con (SGCC), and Nas Summit Asia (NAS).
For more information, please visit: www.imda.gov.sg/smf.
About Asia TV Forum & Market (ATF) 2024
3 December 2024: The ATF Leaders Dialogue
4 – 6 December 2024: Market & Conference
Into its 25th edition, Asia TV Forum & Market (ATF) – the region’s co-production & entertainment content market and conference – is the proven industry platform to acquire knowledge, network, buy, sell, finance, distribute and co-produce across all platforms. It is the premier stage in Asia to engage with the entertainment industry’s top players from around the world. It’s where the best minds meet, and the future of Asia’s content is shaped.
For more information, please visit www.asiatvforum.com
About Infocomm Media Development Authority
The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore’s Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis.
For more news and information, visit www.imda.gov.sg or follow IMDA on LinkedIn (IMDAsg) and Instagram (@imdasg).
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy1 year agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN