IMCINE promotes local film industry

Offers incentives to lurn in productions

Mexican Film Institute IMCINE held a brunch at Cannes’ Palm Square restaurant to promote the country’s three-pronged effort to make Mexico a more competitive film producing destination.

“Around the world there is this huge discussion about incentives going on right now,” said PROMEXICO’s Innovation Coordinator Ricardo Alvarez Felix.

“We’ve come up with a package that we believe will make Mexico much more competitive by today’s standards, and make it a viable destination for a lot of productions,” he vowed.

That package comprises: a streamlined specialized service platform that will cut red tape for all types of productions; Value Added Tax (VAT) rebates; direct financial reimbursements of up to 7.5% of Mexican spend for projects with a minimum $5.5 million budget, or roughly $1.5 million in post-production.

But ultimately even Mexico’s new incentives should not be seen as its main attraction for producers.

“The main message here is: ‘It’s not just about the incentives; it’s about the bottom line. It’s about how much your movie is going to cost you at the end of the day,” said Alvarez Felix.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading