Vietnam eyes investment into up to date entertainment

Mr. Nguyen Van Tuan, General Director of the Vietnam National Administration of Tourism, was speaking at the 2011 Vietnam International Real Estate Connection (VIREC) workshop in Ho Chi Minh City.

The conference focused on this form of investment and introduced what are seen as highly potential projects in Vietnam, as it was themed “Modern Entertainment Investment Inspires the Next Development”.

Mr. Tuan said Vietnam lacks experience and expertise in the modern entertainment industry and has to study much from countries where the sector has developed.

Anthony Van Dam (L), vice president of Canadian company Forrec, adjusts his headphone while Nguyen Thanh Tuan (R), managing director of Vietlink Consulting listens at the conference (Photo: Tuong Thuy)

Guest speaker Thibault Paquin, Principal of Celebrating Life Asia in Hong Kong, told the conference that investment into modern entertainment continues to thrive throughout the world.

Mentioning a key lesson, he said, “China is certainly the game changer for the entertainment in Asia as it drives significant outbound visitors and spread unprecedented growth in the region.”

His example was about Shanghai Disneyland. It is a joint venture of three companies: Shanghai International Theme Park Co., a Chinese-American partnership; Shanghai Theme Park Associated Facility Co, another Chinese-American partnership; and Shanghai International Theme Park and Resort Zone Management Co.

He said both the Chinese and American sides have invested money into the project. “No land-use or intellectual property rights are used as stakes in the project.”

“This future could set the example for future cooperation between local governments and foreign investors in Asia, where both parties are kept at best interest with the common goal of growing tourism and the economy,” said the principal.

As for Vietnam, his question was: “Can and should Vietnam attract foreign investors now or is it too early? It took 10 years for China to attract the likes of Disney and Village Roadshow.”

Mr. Anthony Van Dam, Vice President of Forrec Ltd., a Toronto-based planning and design firm that specializes in the creation of entertainment and leisure, shared some experience as another guest speaker at the conference.

“Build unique experiences around a proven platform. Be a trendsetter as following the leaders doesn’t work. Be daring and systematic. Build a lighthouse identity. Do what it takes to stand out in a crowd. In the changing world, being on top and staying on top requires new thinking. Ensure your future. Differentiate yourself aggressively.”

Meanwhile, Mr. Jim Levesque, President, Leisure Entertainment Company Worldwide (USA), focused on branding.

“Brand your product to create your own unique in the industry.”

He added it was important to “marry” the customer mindset and the developer mindset together. The customer mindset includes searching for leisure entertainment that is special, while the other mindset includes doing something different or doing something tired and tested, said Mr. Levesque. “So, the thrust is to establish your own unique identity in each project.”

The conference included an exhibition of theme parks and new townships in Vietnam and overseas.

Visitors at the theme parks exhibition that is part of the conference (Photo: Tuong Thuy)

Tien Giang Province in southern Vietnam, Danang City and Quang Nam Province in the central region introduced to the event its tourism prospect and investment opportunities.

The Ho Chi Minh City-based Great For Business Company and the Vietnam Real Estate Association co-organized the conference at the five-star Rex Hotel.