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Foreign films fuel Vietnam cinema expansion
Publication Date : 31-10-2012
With favourable Vietnam policies and an increase in audience numbers, foreign and local investors have been more willing to spend more money in the entertainment field.
Last year, the private Platinum MVP Company opened two movie theatres Platinum Cineplex in Hanoi - one in The Garden shopping centre and the other one in the Vincom building.
The company's largest Platinum Cineplex complex in Vincom tower has seven luxury cinemas, with 1,300 seats, showing foreign films with the original languages and Vietnamese subtitles.
"We will open two cinema complexes in Ho Chi Minh City next year. Both will be located in newly opened shopping centres downtown," Dang Ngoc Quang, head of the Platinum MVP's public relations office, said.
The South Korean-owned Lotte Cinema plans to open two cinema complexes in Hanoi and Ho Chi Minh City this month, while Megastar, the country's biggest cinema owner, will open its 10th cinema complex in Ho Chi Minh City later this year.
Foreign and domestic investors have poured a great deal of money into cinemas in Hanoi, Hai Phong, Da Nang, Ho Chi Minh City and Bien Hoa.
The country now has 93 cinema complexes with 214 cinemas, including 21 complexes owned by private and joint-venture companies, according to a recent survey by the Department of Cinematography.
Nguyen Van Hong, director of the Vietnam Film Distribution and Screening Company (Fafilm) in Ho Chi Minh City, said that state-owned cinemas must have preferential conditions in order to build and upgrade infrastructure facilities.
The company imported 120 foreign films last year and 170 this year.
With quality services, State-owned cinemas can satisfy the demands of movie-goers as well as make a profit.
A few years ago, the Ho Chi Minh City Cinematography Company invested more than 1 billion Vietnam dong (US$50,000) to run the Dai Quang Cinema in District 5.
With its quality facilities and beautiful decor, Dai Quang has become one of most attractive entertainment sites for youth.
To lure Vietnamese audiences to the big screen, the cinema often shows Hollywood blockbusters, Asian movies, and latest and best local movies.
The company's 12 billion dong ($574,000) cinema complex, Dong Da in District 5, includes a game section, video and CDs store, and two quality cinemas. These have helped to attract larger audiences.
The company has invested in upgrading and rebuilding other cinemas, such as Thang Long A, Quoc Thai, Van Hoa and Vinh Quang.