“The Philippines, we’ve learned, has a lot of talented people working in the film, animation and gaming industry that outsource their work and they should be given the chance to tell their own stories,” said Mr. Guggenheim who is also the chief executive of animation firm Alligator Planet LLC in a press conference in Makati yesterday.

He added: “The Philippines has a lot of unrealized potential to send out stories to the world because creative products here are not seen outside of the country.”

Mr. Guggenheim is one of several creative industry experts that have been tapped to present in the 2012 Film, Animation and Gaming Congress which will be held this Thursday at the Cultural Center of the Philippines.

The event hopes to expand the global market for Filipino creative talent and connect the industry with potential backers.

“There should be both a domestic and an international market for Filipino animation and games because that is one way that investors will be interested in funding these talents. But you need writers and directors who know not only to speak to the Filipinos but also outside of the country,” said David Kostiner, founding partner of entertainment law firm Counsel LLP.

The Trade department said there are several small animation and gaming firms that eventually close up and leave to work in another country. “Creative industries is one of the investment priorities of the country, however, we see that there are more international firms taking advantage of the incentives rather than local firms,” said Trade department Special Trade Representative Josephine C. Romero.

Under the 2011 Investment Priorities Plan of the government, creative industries are allowed to enjoy an income tax holiday.

The Business Processing Association of the Philippines said on April 11 that revenues of the Animation Council of the Philippines, Inc. -- which specializes in 2D and 3D animation catering to clients in the US, France and Japan, among others -- fell to $128 million in 2011 as the sector lost some contracts due to competition from other countries like China.

On the other hand, Game Developers Association of the Philippines -- which creates and publishes interactive games and entertainment content for various platforms -- saw its revenues grow to $8 million.

Mr. Guggenheim said one of the ways to encourage the local animation and gaming industry to grow is by creating a road map detailing how the private sector and the government can work together. “This road map lay out the value chain where the government and the industry can work together to bring work for the talent here and to develop their skills further. There is a need for support to market Filipino made productions to develop a sustainable local market,” said Mr. Guggenheim.

He added the government could also start by introducing industry players to potential investors and avenues where their products can be shown.

Ms. Romero said the government wants to provide an environment where the local market will also be attractive to local animation and gaming firms thus giving them a choice to stay or go abroad.