Lee Boon Yang, Minister for Information, Communication and the Arts, announced the initiative at the opening of the inaugural 3D Film and Entertainment Technology Festival yesterday, saying the fund will support content projects, 3D infrastructure, production and post-production facilities as well as training initiatives for 3D film makers over the next two years.

In addition, Lee said a piece of land has been earmarked for media infrastructure. This will be a private-public endeavor.

"The government will provide the basic infrastructure and private developers will be invited to build and operate the media support facilities," he said, adding that "We believe there will be growing demand for such facilities from international content creators."