Vietnamese HCM City to unveil new cinema complex
The Ho Chi Minh City Film Company will raise the curtain on its newest cinema complex venture this month in its latest effort to lure local movie lovers back to cinema.
The complex is seen as the most advanced movie theater yet built in Vietnam, with six storeys, two 300- seat cinemas and automatic ticketing booths - the Dong Da Cinema and Trade Center in District 5. If successful, it could become the model of future cinemas.
The center was built after Ho Chi Minh City Film, the city's biggest film distributor, found success in converting old movie halls around the city into luxurious, modern entertainment facilities. The renovations aimed to spark a comeback in the local cinema industry which not five years ago was at risk of shutting down completely.
The number of moviegoers around the city had been dropping for years until a slight turnaround gave the first glimmer of hope two years ago, said the company's deputy director Nguyen Van Thi.
"We saw our revenue increase by 30% in 2001 and 2002 compared to previous years, and the growth is expected to continue," he said.
The reason behind the recent sharp decline was the local viewers' dissatisfaction with the quality of the films being shown. With quality film seldom being screened, the cinema lost popularity and movie lovers opted instead for home videos and DVDs, he explained.
To date, three cinemas - the Minh Chau Cinema and Trade Complex, the Vinh Quang Cinema and Drama Theater, and the Van Hoa Cinema and Cafe Center - out of the 10 facilities managed by the company have been converted into these entertainment complexes and are operating effectively.
"We also plan to export local films, with the first 10 films, including video productions, to be marketed in Japan and South Korea," he said.
The company is also working on its largest project ever, worth $50 million, to build a film screening and office compound on the site of the current Vinh Loi Cinema in the city center.
Financial Times - March 13, 2003.
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