return icon Vietnamnet.vn

Major cinema chains ask for PM’s help over fear of bankruptcy

Large movie theater chains in Vietnam, such as CGV, Lotte, Galaxy and BHD, have requested the prime minister for urgent help to cope with difficulties triggered by the Covid-19 pandemic.

{keywords}
A CGV cinema is disinfected. Large cinema companies have asked for the prime minister’s help to overcome the difficulties caused by Covid-19. - Photo: SGGP

With Covid-19 raging in the country at the moment, all the cinema chains have been closed.

The period of 2010-2020 has seen a strong surge of movie theater chains in the nation. Data showed that the number of modern cinemas in the country has edged up from 90 to nearly 1,100 in the past decade, with moviegoers shooting up from seven million to 57 million.

However, since late January last year, the cinema chains have been on and off because of coronavirus outbreaks.

At present, movie publishers and distributors have earned no revenue, while they still have to shoulder space leasing costs and payrolls.

If the situation continues, they would certainly go bankrupt, sending the entire film industry into a tailspin.

Acknowledging the Government’s efforts to curb the pandemic, they urged the Government and other relevant agencies to work out support policies for them.

They proposed considering the reopening of cinemas early to prevent employees in the sector from losing their jobs. They committed to complying with anti-virus measures after resuming operations.

They affirmed that cinemas can easily put in place these measures as customers will focus on the films and have no time to talk with others. Their seating distance can be ensured and they do not need to gather in ticket boxes to buy tickets as clients can book e-tickets.

In addition, they suggested the Government issue policies to restructure loans or come up with new preferential credit packages. The deadlines to pay social, health and unemployment insurance premiums as well as labor union fees should be extended until December 31.

They also proposed halving the value added tax and delaying the payment of the tax until December 31 as well and reducing or exempting the personal income tax for their employees.

The Government should call on real estate enterprises to facilitate space lessors to reduce or exempt the rentals and service fees for cinemas during their suspension period and at least six months after their resumption.

They proposed the Government recognize movie publishing as an essential service. In the current scenario, the service should be encouraged to reduce mental stress and ease the pressure on the healthcare sector.

In April last year, the Vietnam Cinema Association also sought the prime minister’s help for local cinema companies, stressing that their financial capacity was not as strong as that of foreign ones, such as CGV and Lotte Cinema, to deal with the pandemic.

SGT 

VN cinemas face crisis due to Covid-19 outbreak

VN cinemas face crisis due to Covid-19 outbreak

Cinemas around the country are facing a serious crisis due to the Covid-19 outbreak.

OTT takes advantage of cinema slump

OTT takes advantage of cinema slump

National social distancing measures are dragging CGV and other cineplexes down, causing substantital losses.

MORE NEWS

Only in Vietnam: Shrimp-chip straws, dragon-fruit noodles

VietNamNet sums up the “odd news” in Vietnam last week.

Vietnam in need of more village-based midwives

Vietnam is in need of village-based midwives as the country has more than 7,000 remote and disadvantaged villages where women do not regularly get antenatal care at medical facilities.

Fuel supply estimated to surge 10-15% in 2023

The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media.

Da Nang to hire more IT staff to meet digital transformation goals

In the 2022-2025 period, Da Nang needs at least 7,500 more information technology (IT) workers a year and in the 2026-2030 period, the figure is 8,000.

Ho Chi Minh City looks to cash in on new travel trends

Ho Chi Minh City expects to fully exploit bleisure travel - a novel type of tourism combining business travel with leisure time.

A special English class in Hanoi for the older generation

For the past four years, a special English class has been held in Hai Ba Trung District in Hanoi for students 60 to 90 years old.

VIETNAM BUSINESS NEWS DECEMBER 3

Strong economic growth creates platform for M&A market

VIETNAM NEWS HEADLINES DECEMBER 3

Hanoi Tourism Ao Dai Festival 2022 opens

Use of e-cigarettes by youth rockets with easy availability at shops

Many students and young people have been hospitalized in a deep coma after using e-cigarettes, which are easy to buy.

How will telecom carriers fare in a highly competitive market?

The traditional telecom market is getting saturated and facing upheavals, including a drop in revenue from traditional calls and SMS, a tighter management policy and changes in technology.

Number of international visitors to Vietnam sets 'record' after pandemic

Vietnam welcomed 2.95 million foreign visitors in January-November 2022, 21.1 times up year on year, but still down 81.9% compared with pre-pandemic levels in 2019.

Su-30MK2, Mi helicopters rehearse in Hanoi

On December 2, Su-30MK2 fighters performed in a rehearsal to prepare for the upcoming Vietnam International Defense Exhibition 2022.

Vietnam sends condolences over passing of former Chinese leader Jiang Zemin

Vietnamese leaders on December 2 cabled messages of condolences to Chinese leaders over the death of former General Secretary of the Communist Party of China (CPC) Central Committee and former President of China Jiang Zemin.

Ministry proposes canceling funding plans over disbursement delays

Disbursements of public funds sourced from foreign loans in the year through November had moved at a snail’s pace, reaching only slightly more than 25% of the full-year plan.

Hanoi to pilot bike rental service in six urban districts

Hanoi has approved a year-long pilot bike rental service programme in Hoan Kiem, Tay Ho, Dong Da, Ba Dinh, Hai Ba Trung, and Thanh Xuan districts.
back_to_top