Culture and Arts Fund: a new step for the creative industries

The authorization granted by the National Assembly to experiment with the creation of Culture and Arts Funds according to the public-private partnership model marks a notable evolution in strategic thinking in terms of cultural development in Vietnam.

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Photo : CTV/CVN

Beyond the optimism aroused by the prospect of a more effective financial mechanism, specialists in the sector and cultural actors see it above all as an opportunity to lay the foundations of a true cultural market, capable of sustainably supporting artistic creation and transforming culture into an engine of national growth.

Experts consider that a cultural industry cannot develop in a sustainable manner by relying solely on initial support from the State. From this perspective, support funds play the role of “seed capital”, while the cultural market constitutes the essential environment allowing creative initiatives to develop, spread and generate new values.

For several years, Vietnamese cultural industries have been recognized as a sector with high potential. However, the gap remains significant between this potential and their real contribution to the national economy.

Vietnamese cultural industries are a sector with great potential.

Photo : CTV/CVN

For observers, the development of cultural industries cannot be limited to one-off support for artists or the financing of isolated projects. The priority is now to build a modern and dynamic cultural market, in which cultural products circulate freely, intellectual property rights are effectively protected, businesses are encouraged to invest and creators can make a sustainable living from their activity.

This orientation appears clearly in the Strategy for the Development of Vietnamese Cultural Industries by 2030, with a vision until 2045, approved by the Prime Minister in Decision No. 2486/QÄ -TTg of November 14, 2025.

In the same spirit, Resolution No. 28/2026/QH16 of the National Assembly on the development of Vietnamese culture pays particular attention to the promotion of cultural markets and the experimentation of new models of cultural activities linked to digital platforms, including open museums, mobile theaters and digital libraries.

For many specialists, these developments reflect a profound change in the perception of the role of culture. This is gradually integrated into the dynamics of the creative economy, technological innovation and international competition.

Several countries have already taken this path in order to transform culture into a lever of influence and international influence.

The Republic of Korea is frequently cited as an emblematic example in Asia. The global influence of “Hallyu” is not based solely on massive investments in cinema or music, but on the establishment of a coherent ecosystem combining talent training, technological innovation, communication strategy and global distribution networks.

Each cultural product is part of a close chain of cooperation between the state, businesses and the market, creating both economic value and international cultural influence.

Several experts emphasize that financial resources are only a first step and that the main issue now lies in the creation of a coherent and structured cultural environment.

One of the main difficulties identified concerns the absence of a professional intermediary market capable of effectively ensuring the connection between creators, producers, distributors and audiences.

Associate Professor-Doctor Bùi Hoà i Son. Photo: Thanh Vân/VNA/CVN

Associate Professor-Doctor Bùi Hoà i Son believes that Vietnam has major assets thanks to its creative talents and the richness of its cultural identity, but still lacks sufficiently solid mechanisms to link artistic creation to the market and build a sustainable ecosystem.

According to him, even the most ambitious policies will not be able to fully produce their effects without a close network bringing together decision-makers, cultural managers, professional organizations, artists, the media, the public and economic players.

The question of copyright in the digital environment also constitutes a major issue. While digital technologies open up new perspectives for cultural industries, they also make the protection of intellectual property more complex, which can weaken investor confidence.

Experts consider that in the absence of a transparent market that respects copyright, it will be difficult to build a solid and competitive cultural industry.

Doctor Nguyén Huy Phong stressed that the development of cultural industries must be accompanied by the construction of a healthy cultural market and mechanisms promoting innovation, while preserving national identity in the face of the risks of excessive commercialization.

Finally, specialists believe that the balance between cultural identity and market logic will be decisive for the future of Vietnamese cultural industries. A market devoid of identity would risk producing standardized and uncompetitive content, while a culture disconnected from market realities would remain confined to a limited space.

In this perspective, the success of the experimentation of the Culture and Arts Funds, associated with the structuring of a professional cultural market, could open a new phase of development for Vietnamese culture and sustainably strengthen its contribution to national development.

VNA/CVN