Vietnam to Boost Cultural Industry with Increased Budget, Deregulation

The Communist Party of Vietnam has ordered that cultural spending be increased to at least 2% of total state budget expenditure, a significant step aimed at strongly driving the development of the cultural industry. Tran Cam Tu, a Politburo member and standing member of the Party Central Committee’s Secretariat, revealed this directive, emphasizing the need for greater efficiency in budget allocation and disbursement, alongside stronger mobilization of social resources. This instruction signals Vietnam's strategic positioning of cultural sector promotion alongside its economic growth. In particular, strengthening copyright protection is recognized as an essential element for the sustainable development of the cultural industry. Revisions to related laws and enhanced enforcement are anticipated, which could protect creators' rights and incentivize new content development. Furthermore, the introduction of tax incentives to revitalize the cultural industry is under consideration. This aims to attract both domestic and foreign investment, thereby enhancing competitiveness in sectors such as content creation, publishing, film, music, and arts. The implementation of "Resolution 80" in Da Nang City is cited as a pioneering example to spur breakthroughs in the cultural industry. Under Vietnam's one-party system, Party directives wield considerable influence over policy decisions. This latest instruction clearly indicates the direction of cultural policy, reflecting Vietnam's ambition to improve the spiritual well-being of its people and enhance its international cultural influence, while continuing to enjoy economic growth.