Brian Jeffrey
This morning, on October 15, an investment promotion conference for cultural and sports initiatives for 2024 took place, organized by the Ho Chi Minh City People’s Committee, with Minister of Culture, Sports, and Tourism Nguyen Van Hung in attendance.
Chairman Phan Van Mai opened the conference by highlighting its significance as a platform for presenting projects within the cultural and sports sectors, while also emphasizing the importance of gathering investor insights to refine development policies for the cultural industry.
“Currently, Ho Chi Minh City has not hosted major events like the SEA Games or other significant continental and global gatherings; we also lack recognition as a venue for pivotal regional cultural and artistic activities, which is a point of concern for the government,” Mai stated.
The city is eager to collaborate with investors and other stakeholders to tackle these challenges. Their vision is to establish adequate infrastructure by 2030 that positions Ho Chi Minh City as a hub for both continental and regional events, featuring modern cultural and sports facilities suitable for large-scale occasions.
Mai reiterated the city’s commitment to mobilizing resources from both local and international sources to foster the cultural industry, aiming for it to be a vital sector for Ho Chi Minh City.
During the event, the Ho Chi Minh City People’s Committee unveiled its 2030 development plan for the cultural industry, which includes inviting investment in five new cultural and sports initiatives through public-private partnerships (PPP). These projects are: the A-B Labor Art Performance Center, the Gia Dinh Theater, the Ho Chi Minh City Cultural Center, the Ho Chi Minh City Cultural and Artistic Center in Thu Thiem, and the Ho Chi Minh City Multi-Purpose Cultural and Sports Center located in Can Gio District.
As of September 2024, the estimated investment required for these five projects is around 2,352 billion VND. Notably, 1,643 billion VND is designated for the Multi-Purpose Cultural and Sports Center in Can Gio District to cater to the cultural and sports needs of the local community.
The Cultural and Artistic Center in Thu Thiem (Thu Duc City) is planned to host large cultural and artistic events, with a capacity for 3,000 attendees; however, the investment figure is yet to be determined. Meanwhile, the Ho Chi Minh City Cultural Center (District 1) has secured 295 billion VND, the Gia Dinh Theater (Binh Thanh District) has an allocation of 250 billion VND, and the A-B Labor Art Performance Center (District 5) is set for 164 billion VND.
