Vietnamese lawmakers are pushing major reforms to turn the country’s cultural creations into a thriving industry. Their plan focuses on early‑stage financing, stronger IP protection and a clear set of priority sectors.

The draft Law on Cultural Industry Development proposes establishing an exchange for creative ideas, expanding intellectual‑property financing and giving priority to selected cultural sectors, according to the lawmakers’ proposal. They argue that these measures are needed to turn creative achievements into a fully developed cultural industry. The draft currently lacks clear priority sectors and mechanisms for early‑stage idea financing, prompting suggestions for a dedicated appraisal council, investment funds and specific assessment criteria.

Deputy Le Thi Thuy Sen highlighted the commercial power of the Harry Potter franchise, estimating its value at about $25 billion and noting the author’s personal wealth of roughly $1.2 billion. She said early‑stage investment is essential for turning ideas into marketable products and urged the law to include provisions for identifying and financing promising ideas. Sen also called for a market for such ideas, an exchange and investment funds to support their commercialization.

Deputy Le Hoang Anh pointed out that Vietnamese games recorded 4.9 billion downloads in 2025 and that domestic films generated nearly VND5.6 trillion at the box office, yet the country lacks mechanisms to monetize these successes. He stressed the need for priority sectors, stronger online copyright enforcement and better financing for IP‑based products. Anh noted that more than VND9 trillion ($341 million) is earmarked for cultural‑infrastructure projects but the leverage ratio is low, so he recommended concentrating investment on three to four priority sectors each five‑year period, such as video games, cinema and music.

If the proposed changes are adopted, Vietnam could better protect creators, attract early investment and focus resources on the most promising cultural fields. The reforms illustrate how targeted policy can turn creative ideas into real economic opportunities.