Rapid but uneven growth
In the first half of 2026, more than 30 Vietnamese films were released in cinemas, up nearly 70% compared with the same period last year, including eight films whose revenue exceeded 100 billion VND. Genres also became more diverse, ranging from drama and family films to horror and fantasy. Notably, production budgets have been raised to a new level, commonly at around 100-130 billion VND for a medium-scale project, a sign that producers are now confident enough to “bet” on quality rather than pursue quantity.
However, a closer look at the revenue structure reveals many shortcomings in the market. Dr Nguyen Thu Ha, former Deputy Director of the Cinema Department, cited 2025 figures showing that more than 55 films were released in cinemas, earning over 3.7 trillion VND and accounting for more than 60% of market share for the first time. However, according to Ha, this growth does not yet mean stable development, because revenue remains highly polarised, with most profits concentrated in a small number of successful films, while the gap between the leading group and the rest is widening. The core issue lies in the operating mechanism of the entire ecosystem, not just in individual films.
According to experts, such uneven market growth is partly because Vietnamese cinema lacks intermediary institutions to share risks and connect resources. Associate Professor Dr Nguyen Thi Thu Phuong, Director of the Viet Nam National Institute of Culture, Arts, Sports and Tourism, pointed out that the industry already has all stages, from project development, production and distribution to the market and audiences, but these stages remain fragmented and linked only in the short term. The absence of film funds, project development centres and project markets forces filmmakers to take on too many roles, from creation and fundraising to production connection and finding outlets for their works.
As a result, Vietnamese cinema’s successes in international markets have so far mostly been isolated cases. Director and Meritorious Artist Bui Trung Hai said Vietnamese cinema needs to integrate into the international flow as quickly and strongly as possible, but this cannot be the work of just a few individuals; it requires an entire system and a well-trained generation of filmmakers backed by proper organisation.
Building a reputable film market
A concrete step in this direction has just been taken. On August 20, the Cinema Department under the Ministry of Culture, Sports and Tourism and Global Exhibition and Convention Joint Stock Company (GloEx) signed a memorandum of understanding on coordinating the organisation of the Viet Nam film and digital content market, scheduled to take place in late November in Ha Noi in connection with the 8th Ha Noi International Film Festival. This will be the first time a domestic film festival has included a true film market, where copyright trading, co-production negotiations and investment promotion will take place alongside the familiar activities of film screenings and awards.
Director of the Cinema Department Dang Tran Cuong noted that Vietnamese cinematic content is developing strongly, but much remains to be done for it to reach the world and be embraced by international audiences, including building a sufficiently reputable commercial platform to introduce the domestic film and entertainment industry to international friends.
Cuong said a modern film event needs to be accompanied by commercial activities instead of stopping at the festival component alone, as this is the part that helps shape the market and promote the whole industry. The event is expected to attract about 200 booths and representatives of more than 100 companies and brands from over 15 countries and territories, including many strong Asian film markets such as the Republic of Korea, Japan, China, Thailand, Singapore and Malaysia.
Wong Chiang Tat, Chairman of the Board of Directors of GloEx, said the goal is to connect Vietnamese enterprises with potential partners around the world, from buyers, distributors and producers to investors and content partners.
The Cinema Department’s decision to assign part of the organisation work to a private enterprise with a global network such as GloEx to handle infrastructure and connect international partners is a practical choice for a still-young industry, as state resources remain limited while organisational experience and guest networks are strengths of the private sector.
Institutions first, market follows
Experts expect the film market to create a breakthrough for Vietnamese cinema. However, according to Dang Tran Cuong, the top priority in the coming period is to complete institutions and develop appropriate mechanisms to implement activities related to the film market.
With a clear legal framework, enterprises can feel secure about making long-term investments; with transparent mechanisms on copyright and production cooperation, foreign partners will be more willing to inject capital. The film market, therefore, is only a concrete step in realising the policy direction, not the final destination.
Speaking at the signing ceremony of the memorandum of understanding on organising the Viet Nam film and digital content market, Deputy Minister of Culture, Sports and Tourism Ta Quang Dong emphasised: “This is a perfect combination, as Viet Nam is expanding for the first time into a new and necessary field. Politburo Resolution No. 80-NQ/TW on the development of Vietnamese culture has opened a new stage of development for national culture, in which cultural industries are regarded as a strategic spearhead for Viet Nam to integrate more deeply into the world.”
Dr Ngo Phuong Lan, Chairwoman of the Viet Nam Cinema Promotion Association, said Vietnamese cinema is still in the process of seeking a more sustainable development model, with closer links between creativity, production, distribution, human resource training and the market. Film markets, film funds, project development centres and tax policies are all pieces of the puzzle, and they can only take effect when placed together as part of a whole.
Reality shows that what Vietnamese cinema needs now is a continuously operating ecosystem, where policies, the market, intermediary institutions and human resources all move at the same time towards sustainable development.
