Identifying the role of the private economy in developing cultural industry

The private sector should not only be seen as an investor, but also as a co-creator of Vietnam’s cultural future. They have aspirations, potential, and a spirit of innovation, and need trust and support from the institutions.

That was the opinion of Associate Professor - Doctor Bui Hoai Son, Standing Member of the National Assembly's Committee on Culture and Society, at the discussion "The role of subjects in developing Vietnam's cultural industry to 2030 with a vision to 2045" on March 27 in Hanoi.

According to Mr. Bui Hoai Son, the private economy has emerged as a dynamic, agile and creative force, meeting the demands of the times. With the ability to mobilize capital flexibly, with a market mindset, with a spirit of continuous innovation, private enterprises have completely changed the face of many cultural fields - from cinema, music, fashion, media to publishing and performing arts.

Associate Professor, Doctor Bui Hoai Son, Standing Member of the National Assembly's Committee on Culture and Social Affairs, spoke at the seminar. (Photo: Minh Thu/Vietnam+)

“In the new era of the nation, the role of the private economy in cultural development is more prominent and necessary than ever. They are the ones who dare to think, dare to do, dare to experiment and pave the way; they are the pioneers who bring Vietnamese culture to the world with bold, creative and flexible steps,” said Mr. Son.

However, for the private economy to truly become a strategic driving force for cultural development, a favorable ecosystem is needed: clear incentive policies, a transparent legal framework, a mechanism to encourage innovation, and close support from the State. It is necessary to change the mindset from "asking and giving" to "cooperating for mutual development," from "administrativeization" to "creating conditions and support."

Sharing the same view, Associate Professor - Doctor Nguyen Thi Thu Phuong, Director of the Vietnam National Institute of Culture and Arts, said that the subjects of the cultural industry really need the support of the State.

Speakers at the seminar. (Photo: Minh Thu/Vietnam+)

“The term cultural industry is no longer strange to us today, but the responsible participation of cultural industry entities is still far away because entering the market means taking on many risks. We are proposing to amend the Investment Law in the form of public-private partnership, with tax incentives or the establishment of a support fund for cultural industry enterprises,” said Ms. Nguyen Thi Thu Phuong.

Contributing her opinion at the seminar, Dr. Nguyen Thi Quy Phuong, General Director of Vietnam Exhibition Fair Center Joint Stock Company, General Director of Vietnam QP Consulting Company affirmed that the subjects of the cultural industry are enterprises, but currently the State is still investing heavily in cultural institutions without paying due attention to enterprises.

“The reality is that about 97,000 businesses are having to ‘swim on their own.’ During the COVID-19 period, many businesses have gone bankrupt. Not everyone is as successful as Tran Thanh. Although the movie ‘Dong Mau Anh Hung’ was very successful, Meritorious Artist Chanh Tin’s Chanh Phuong Film Studio still went bankrupt because it could not ‘bear’ the costs and bank interest,” Ms. Quy Phuong shared./.

At the seminar, the Institute of Chinese Studies in collaboration with the Social Sciences Publishing House (Vietnam Academy of Social Sciences) launched the book "Choose to give or choose to leave - The Chinese cultural market in the era of globalization" edited by Dr. Tran Thi Thuy (Institute of Chinese Studies).

The book is a summary of the ministerial-level scientific project "Development of the cultural market in China from the beginning of the 21st century to the present," conducted in the 2021-2022 period, chaired by the Institute of China Studies.

The book consists of three main chapters, presenting a number of theoretical and practical issues about the Chinese cultural market and suggestions for the Vietnamese cultural industry.

(Vietnam+)

Source: https://www.vietnamplus.vn/nhan-dien-vai-tro-cua-kinh-te-tu-nhan-trong-phat-trien-cong-nghiep-van-hoa-post1023097.vnp