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Increasing investment in cultural industries: A step toward sustainable growth

Vietnam is increasingly recognising the importance of cultural industries in driving economic growth while preserving the nation’s cultural identity.
Van Phuc silk products (Photo: VNA)
Van Phuc silk products (Photo: VNA)

HCM City (VNA)𝓡 – In a bid to meet its ambitious goals for 2025 and beyond, the Government has issued Resolution No. 01/NQ-CP outlining strategic measures for socio-economic development, with a strong focus on fostering professional, modern, and creative cultural and entertainment industries.

Unlocking potential, resources

Vietnam is increasingly recognising the importance of cultural industries in driving economic growth while preserving the nation’s cultural identity. Many localities are tapping into their unique cultural assets to develop industries that highlight the country’s rich history, art, and traditions. In Ho Chi Minh City, for example, authorities are prioritising the development of eight key cultural industries, including film, to create a vibrant and internationally competitive sector. The city’s film industry alone includes over 930 enterprises, employing more than 9,000 people and contributing roughly 0.43% to the city’s GRDP. With more than 100 active filmmakers, Ho Chi Minh City is making strides in becoming a global hub for film production. To further this goal, the city has applied for membership in UNESCO Creative Cities Network (UCCN)’s City of Film, an effort to integrate the city more deeply into the global creative economy.
In the Mekong Delta region, provinces are leveraging their cultural tourism and handicraft industries to fuel growth. Vinh Long boasts a wealth of historical sites, traditional craft villages, and folk cultural practices, such as “hat boi” (classical opera) and “don ca tai tu” (southern (amateur singing)). The province has invested significant resources into preserving these cultural treasures, allocating more than 30 billion VND from the local budget to restore cultural sites and promote tourism. The local handicraft sector, which includes pottery, basket weaving, and hat-making, is also seeing growth, contributing to both the domestic market and international tourism. Meanwhile, authorities of Can Tho city, another key locality in the Mekong Delta region, are focusing on developing its cultural tourism infrastructure, with 640 accommodation facilities already in place. The city’s mix of ecological tourism, agricultural experiences, and cultural activities has positioned Can Tho as a key tourism hub in southern Vietnam. The goal is to attract both domestic and international visitors, creating a dynamic regional tourism ecosystem.

Increasing investment in cultural development

But investment isn’t just about building infrastructure - it’s also about fostering creativity and entrepreneurship. In HCM City, local authorities are not only focusing on attracting investors but are also creating a supportive environment for artists and creators.
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The process of molding and shaping Bat Trang ceramic products is always the most difficult step, and must be carried out by skilled craftsmen with skillful hands. (Photo: VNA)
Vice Chairwoman of the municipal People’s Committee Tran Thi Dieu Thuy said that policies that provide tax breaks, land use benefits, and funding for cultural startups are part of the city’s plan to build a sustainable cultural ecosystem. The goal is for the cultural industries to grow at an annual rate of 12% by 2030, contributing 7-8% to the city’s GRDP. Similarly, in Ca Mau, a province in the southernmost part of the country, the focus is on developing sustainable cultural tourism and promoting local craftsmanship. Nguyen Minh Luan, Vice Chairman of the provincial People’s Committee said that by preserving its historical and natural landmarks, Ca Mau aims to develop tourism that’s both economically viable and culturally meaningful. The province is also working to integrate its unique culinary traditions into the tourism experience, highlighting local flavours that reflect the region’s rich cultural heritage.
In Vinh Long, according to representatives from the provincial People's Committee, the region is continuing to invest in developing its cultural industries by enhancing infrastructure and equipment for local cultural facilities. The province is also rolling out the "contemporary heritage Mang Thit" project, which aims to preserve traditional brick and ceramic craft villages while promoting cultural tourism and traditional handicrafts. Additionally, Vinh Long is exploring policies to provide financial, tax, land, and creative incentives for artists and businesses in the cultural sector./.
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