A different perspective on Vietnam’s economy and doing business in Vietnam. Make sure to  subscribe.

cheat sheets

snapshots

Article on developing Vietnam’s cultural industries missing key point

Vietnamnet is carrying an article that discusses how Vietnam can develop its cultural industries. It notes that cultural industries generate up to 10 percent of global GDP, however, in 2021, Vietnam’s cultural industries accounted for  3.61 percent of the country’s GDP. 

The publication carries comments from Nguyen Phuong Hoa, head of the International Cooperation Department at Vietnam’s Ministry of Culture, Sports and Tourism (MoCST). Nguyen argues that to grow the sector:

  • Public–private partnerships are needed with greater financial support from the state; and
  • That Vietnam should continue to participate in as well as host international cultural events.

Of note, Vietnam generally has a very narrow definition of culture in which traditional dance, costumes, and art works feature prominently. Modern culture, however, is often stymied by regulations and producers are penalised when they go outside of the bounds of how the authorities would like Vietnam portrayed in the international arena. For example, the producers of the Vietnamese film Vi, which won the Special Jury Award at the Berlin International Film Festival, were fined VND 35 million (US$1,500) for entering the film in the competition without certification from the MoCST.

Any discussion of developing Vietnam’s cultural industries, therefore, needs to include a discussion of the risk versus reward for producers with respect to Vietnam’s censorship regime.

get connected with an expert
contribute a guest post
send a letter to the editor
submit a press release

latest news

Vietnam shelves new coal power plant in southern Vietnam

Of note, it was announced at the beginning of June that Toyo had managed to secure a US$980 million loan from Exim Bank. This announcement, however, was met with some concern on account of the fact that Vietnam has signed up to a Just Energy Partnership Agreement worth US$15.5 billion to be used to reduce its dependence on coal…

Read More »

Vietnam CPI Tracker: 4.34 percent in June [data set]

Inflation has been relatively low in Vietnam compared to other parts of the world but this is largely due to government price controls. These lower prices, however, have come at a cost. Input prices, particularly in input dependent industries have risen, however, businesses in many industries have been unable to raise their pricing to compensate. As a result, many have seen their profit margins squeezed while others have had to run at a loss…

Read More »

Vietnam News Roundup: June 29 to July 4

This week’s Vietnam news roundup covers the latest tourism and industrial production numbers, the increase to the minimum wage that kicked in Monday, the new start dates for several key laws, approval of a Value-Added Tax reduction to the end of the year, foreign trader stock market transactions, and more…

Read More »
your listing
your details

advertising enquiry

submit a press release

Note that it will be marked as a press release/sponsored post.

guest post

We publish guest posts of 800 to 1000 words from experts who have something unique to say on topics relevant to our audience. 

get connected with an expert

letters to the editor

We review letters for quality and authority and generally only publish views that add to the discussion from experts in their field.