Vietnam's Cultural Industry Lacks Clear Metrics Amidst Development Challenges

In Vietnam, the lack of concrete metrics to measure the economic contribution of the cultural industry has emerged as a significant challenge to its development. Currently, precise answers are unavailable to fundamental questions such as the cultural industry's contribution to the Gross Domestic Product (GDP), the number of businesses and workers active in the sector, which fields generate the highest economic benefits, and the volume of exports and imports. This situation is believed to hinder the formulation of strategic development plans for the cultural industry and the full realization of its potential. Against this backdrop, efforts are underway in Ho Chi Minh City to build cooperative frameworks to promote the development of the cultural industry. Specifically, attempts are being made to strengthen inter-sectoral links within the cultural industry and to create new spaces for connection. Initiatives like the "Vietnam Cultural Industry 'Golden Torch' Award" are also being implemented to encourage outstanding achievements and revitalize the sector as a whole. Furthermore, the development of the cultural industry in the digital age is a crucial theme. Embracing technological advancements and exploring new methods for content creation and distribution are seen as keys to future growth. However, it will take time for these individual initiatives to accurately assess the overall economic impact of the cultural industry and translate into policy-making based on such assessments. Establishing clear "yardsticks" is essential for the sustainable growth and enhanced international competitiveness of Vietnam's cultural industry.