Double digit economy

Digital platforms enable greater connection with diverse audiences and higher awareness of less-known aspects of culture. (Photo: Artist Nguyen The Son) New investment models for the cultural arts will be the key to open up development opportunities for Vietnam’s creative industry in the international market. Cooperation needed to create inspiration sources In recent years, after the COVID-19 pandemic broke out, the digitization of cultural and artistic works in Vietnam has made a lot of progress. Professor Julia Gaimster, Dean of the Faculty of Communication and Design, RMIT University, hailed that as an outstanding achievement after five years of implementing the Prime Minister's Strategy for Cultural Industry Development. The substantial inclusion of digital cultural content can help attract domestic audiences and introduce contemporary images of Vietnamese culture to international audiences. Building a digital culture In 2019, Hanoi people were surprised to see on … [Read more...] about Cultural industry renewable and vibrant under digital plan

Production recovery An increasing number of multinational corporations are raising capital and/or moving production to Vietnam. Data from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed that by the end of June 2022, the capital of newly registered projects, increases in the capital of ongoing projects and capital contribution and stock purchases by foreign investors totaled over US$14.03 billion, equivalent to 91.1 percent over the same period in 2021. Foreign direct investment (FDI) projects were estimated to have disbursed US$10.06 billion, an increase of 8.9 percent compared to the same period in 2021. Foreign enterprises are interested in high-tech manufacturing in Vietnam RSM Vietnam Chair Le Khanh Lam said foreign investment has always been the main driving force for Vietnam’s economic growth. Despite the impact of the COVID-19 pandemic over the past two years, Vietnam is regaining its growth momentum, with the … [Read more...] about Vietnam draws increased foreign investment

At the signing ceremony (Photo: ADB) Hanoi (VNA) - The People's Committee of Thua Thien - Hue province and the Asian Development Bank (ADB) in Vietnam on August 17 signed a Memorandum of Understanding ( MoU ) on promoting a strategic partnership for inclusive and sustainable economic development. This is a framework cooperation oriented-agreement, aiming to assist Thua Thien-Hue to achieve socio-economic development goals for the 2021-2025 period, thus addressing challenges facing of the local economy by digital technology, and speeding up digital economy and digital society. The MoU covers contents related to cooperation orientation principles; goals and areas of cooperation; establishment of foundation for strategic dialogue; development of joint action plans for projects; sharing knowledge, ideas and experience and engaging in dialogues with stakeholders. Under the MoU, the ADB will give periodic consultations to the local authorities within the framework of the … [Read more...] about Thua Thien – Hue, ADB sign MoU for inclusive, sustainable economic development

Photo: Digital platforms connect people and at the same time raise public awareness of cultural aspects of Vietnam that are not widely known (Photo courtesy of artist Nguyen The Son) Hanoi (VNA) - New investment models will be key to create opportunities for the development of Vietnam’s culture and creative industries in the international market . In recent times, the digitalisation of cultural works in Vietnam has seen a positive change, especially since COVID-19 grounded the economy to a halt and put more people online. Prof. Julia Gaimster, head of Communication and Design at RMIT University, affirmed that it is a major achievement after the five-year implementation plan put in place for the Prime Minister’s cultural industry development strategy. The increase of digital cultural content may further attract audiences at home and abroad, promoting images of Vietnamese contemporary culture to international friends around the world. Setting up digital culture … [Read more...] about Partnerships needed to optimise Vietnam’s cultural industry potential