Vietnam’s Beta Media and Japan’s Aeon Entertainment, have announced that they intend to build a new, premium cinema chain in Vietnam, Variety has reported The total investment could be worth as much as VND 5 trillion or US$198.2 million.
Of note, for foreign firms, forming a partnership with a local business can reduce some administrative hurdles that go along with starting a business in Vietnam. Specifically, a joint venture will not require an Investment Registration Certificate or IRC.
Joint ventures, however, can be risky. A mismatch in work ethics and management styles can cause conflict in the workplace, particularly in cross-cultural settings. Foreign businesses that pursue this route should prepare themselves accordingly.
See also: How to Start a Business in Vietnam: Ultimate Guide 2024