Potential and challenges in creative industries

The creative industries have contributed three to five percent to the country’s total GDP. However, according to experts, to exploit its advantages and transform creative industries into an economic mainstay, Vietnam needed to adopt specific macro-economic policies.

The creative industries are a general concept to Vietnamese business community, contributing three to five percent to total GDP of the country. Many sectors have used the creative industries to create high value products such as the light industry and handicraft sector.

Addressing an international conference on creative industries organized by the Hanoi Trade Promotion Center on October 28, British Council Vietnam Director Chris Brown said that the creative industries could exist in any field such as fashion design, industrial design, packaging, handicraft, software design, technology and digital content, advertising, marketing, publishing, radio, television, architecture, music, film and performance art. In particular, Vietnam has advantages to develop the creative industries due to abundant labor resources.

According to experts, the creative industries required long-term development and needed to overcome challenges. Hanoi Department of Industry and Trade Deputy Director Pham Duc Tien said that Vietnam’s creative industries had not met their potential. In terms of mechanisms and policies, the country has not met business requirements in the creative industries. Incentives for capital and interest rates have not been sufficient.

Vietnam Creative Entrepreneurs’ Club Chairman Le Quoc Vinh said that business creativity had not been assessed according to its value. It seemed to be a major obstacle in the development of the creative industries. When intellectual property is overlooked, businesses will not take interest in the protection of their products. “If intellectual property is highly appreciated, the value of creativity will greatly increase,” Vinh said.  

Director of the Creative Industries Knowledge Transfer Network, expert in the creative industries from the United Nations Educational, Scientific and Cultural Organization (UNESCO) and the British Council Frank Boyd said that Vietnam’s education system remained weak and had not met the development of the creative industries.

Creative Industries Knowledge Transfer Network Director Frank Boyd said that creative industries is the term used to name the major industries using skills, talent and human creativity in creating added value for products and services and is formed from the protection of intellectual property

The creative industries have opened a new development way for sectors in the economy. In recent years, some Vietnamese industries have recorded a strong growth thanks to the development of the creative industries, such as the handicraft sector and leather, footwear manufacturing.

The country needed to adopt a common policy for the development of the creative industries. The creative industries require large resources for research and development. Hanoi People’s Committee has paid special attention to the development of the creative industries. The city has built a development strategy for the creative industries and spent 600 hectares of land in Phu Xuyen District to develop projects.

Le Quoc Vinh said that Vietnam has advantages in terms of agriculture to create high value products. Therefore, the country should create favorable conditions for the development of its sector./.

Source: breakingnews

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