Pursuant to the amended Cinema Law that was passed by National Assembly on June 18, foreign individuals and institutions or Vietnamese overseas have the right to cooperate with Vietnamese film producers and publishers under business cooperation contracts or setting up joint ventures.
In film producing joint ventures, foreign holding ratio is not allowed to exceed 51 percent of its authorised capital.
The law will be enforced from this October.
After the enforcement time, cinema joint ventures with the foreign holding ratio of over 51 percent, which were established previously, still can continue operating until the deadline of investment license according to Clause 170 Law on Business.
|
