70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Cinema industry asks for recognition as essential service amid pandemic
Hai Yen 21:53, 2021/06/02
Movie distributors and cineplex operators have called for cutting 50% of value-added tax and payment deferral of such tax until December 31, 2021.

Major players in Vietnam’s cinema industry have proposed that film screening be included in the list of essential services amid the Covid-19 outbreak.

 Cinema in CGV Mipec Tower in February. Photo: Kinhtedothi

“During this difficult moment, entertainment activities should be promoted to reduce illness due to mental stress, in turn relieving pressure on the healthcare system,” stated movie distributors and cineplex operators, including Thien Ngan, BHD Vietnam, CGV, and Lotte Cinema, in a joint letter sent to the government.

Under this context, all four companies suggested the government should soon allow cinemas to be reopened on condition that Covid-19 countermeasures are met.

They explained that in cinemas, viewers only focus on the movie instead of talking, not to mention a safe distance between seats, along with online ticket purchase, movie screening is safe and effective in avoiding mass gatherings.

On behalf of the movie industry, these enterprises also called for cutting 50% of value-added tax and payment deferral of such tax until December 31, 2021, as well as waiving or reducing personal income tax for those working in the industry.

In the letter, enterprises argued that during the 2010-2019 period, the movie industry had gone from strength to strength with the number of modern cinemas nationwide going up from 90 to 1,096, a surge of 1,104%.

Meanwhile, the number of movie-goers also rose sharply from seven million to 57 million per year, up 714%, resulting in revenue of VND4.14 trillion (US$179 million) from VND540 billion (US$23.34 million).

“Such strong growth helps create jobs for 10,000 people and represent a big source of the state budget revenue,” it noted.

However, since early 2020 to date, the Covid-19 pandemic has caused a suspension of all entertainment activities, including cinemas.

“With zero revenue, cinema operators still have to cover all operational costs. As a result, all are facing the risk of bankruptcy, regardless of their sizes,” stated the letter.

RELATED NEWS
TAG: Vietnam cinema industry BHD Vietnam CGV Lotte Cinema Covid-19 pandemic movie screening
Other news
12:37, 2024/05/17
Vietnam news in brief - May 17
Follow The Hanoi Times for the latest news on Vietnam.
20:06, 2024/05/15
EVN to have limited role in direct power purchase agreement mechanism
Government management should be separated from the generation, transmission, and distribution of electricity.
14:22, 2024/05/14
Vietnam's gaming industry aims for $1 billion in revenue by 2028
The Vietnamese gaming industry has a lot of advantages to be able to compete with other countries.
18:01, 2024/05/13
Vietnam c.bank to continue auctioning gold
The authorities would continue to inspect, monitor, and deal with gold smuggling, speculation, or the exploitation of hoarding policies to drive up prices and cause market instability.
12:51, 2024/05/11
South Korea’s Hyosung plans to build data center in Vietnam
Vietnam is recognized as one of the world's top 10 emerging data center markets, with a potential market value of US$1 billion by 2028, driven by an average annual growth rate of nearly 11%.
22:07, 2024/05/10
Vietnam in need of US$12 billion for EV infrastructure: HSBC
By leveraging collaborative relationships and overcoming barriers to electric vehicle adoption, Vietnam has the potential to accelerate its green transportation race.