Film industry awaits Tk 23b fresh investment

---

Ismail Hossain The country's struggling film industry is going to get a big boost by 2014, as a number of new entrepreneurs are planning to invest around Tk 23 billion for building new cineplex houses as well as digitisation and renovation of old movie theatres. Besides, they are also planning to invest money on making some 40 new movies. Bengal Cinema Development Forum (BCDF), an arm of Bengal Foundation, has recently floated a plan to invest Tk 20 billion for building 100 new cineplexes across the country, which would be the biggest chunk of the new investment. "Apart from Tk 20 billion investment in the cinema infrastructure, we have another project called cinema support project, under which 10 films will be financed," said N Rashed Chowdhury, coordinator of the support project. Under the project BCDF would give Tk 6.0 million to each of the filmmakers, and all the films are scheduled to be completed by the end of 2014. "We will give importance to the budding filmmakers, who have long cherished dreams of making global standard films," Mr Chowdhury said. He said BCDF would develop infrastructure and patronise new filmmakers simultaneously. Mr Chowdhury, who got a fund from the government for making a film, expressed hope that these initiatives would change the scenario of the local film industry by the next one or two years. Another project worth around Tk 1.2 billion has been started by Jaaz Multimedia to rejuvenate old movie theatres through installation of digital technology. "Initially we have signed agreements with 50 cinema halls to introduce digital technology, and later we will expand the project," Manwar Ehttasham, chief executive officer (CEO) of Jaaz Communication, told The financial Express (FE) earlier. Manwar Ehttasham said digitisation of each hall will cost Tk 3,000,000, which includes installation of high resolution computer server, projector, sound system, AC and back-up IPS-UPS. Impress Boutique Cinema, another new project launched a few days back, will finance maiden movies of the country's six promising directors, said Ibn Hasan Khan, director marketing of Impress Telefilm, to the FE. Impress Group, whose business interests range from textiles and pharmaceuticals to media and entertainment, has been investing on films for some 10 years. Mr Khan said Impress would invest on a total of 11 films, including those six of new directors, in the coming months. Among the 11 films, two films will be Mostofa Sarwar Farooki's, who made great contribution to Bangladesh's cinema in the recent days. While asked whether these initiatives would change the existing scenario of the film sector, Mr Khan said there must be infrastructural changes before changes in film making. "Bangladesh Film Development Corporation (BFDC) has called tenders for digitisation of FDC several times, but withdrawn those for unknown reasons. The government must focus on technical improvement," he added. Industry insiders think that there are a number of talented filmmakers in the country. But they often turn to privately-owned television platforms to fund their small-budgeted, digitally-shot work or make telefilm or drama due to logistical challenges or financing limitations. Meanwhile, the government last month approved seven films for donation in the fiscal year 2012-13. According to the Ministry of Information, Tk 3.5 million production cost will be given as donation for each of the films. In addition, each filmmaker can get technical and other supports amounting to Tk 1.0 million from BFDC.