Investment
Netflix pledges to respect Vietnamese law and tax policy
Netflix is one of the largest media service providers in the world with around 151 million registered accounts from 190 nations and territories.
Netflix, a US media-services provider, extremely wants to invest more in Vietnam market, commits to abide by the country’s regulations and pay tax, stressed Netflix's Managing Director for Asia Pacific Kuek Yu-Chuang in a meeting with Vietnamese Minister of Information and Communications Nguyen Manh Hung.
According to Kuek, Netflix distributes movies and TV series (mainly US productions) and television programs (TV shows) with purely entertaining contents, with no advertisement or content created by users.
He also proposed signing a memorandum of understanding (MoU) between Netflix and the Ministry of Information and Communications on buying Vietnamese films to broadcast on the network, co-operating in manpower training and exporting Vietnamese movies.
Kuek also emphasized that Netflix wants to develop contents in Vietnamese and make publicity of Vietnamese motion pictures to show the world that Vietnamese movies are as good as any other country’s productions.
At the meeting, Minister Nguyen Manh Hung stressed that when it comes to doing business in Vietnam, foreign enterprises are compelled to abide by the country’s law.
Besides distributing Vietnamese films, Hung suggested Netflix to work with local movie makers to create more motion pictures, which may respond to the Vietnamese audiences entertaining demand as well as that of Netflix subscribers worldwide.
Netflix is one of the largest media service providers in the world with around 151 million registered accounts from 190 nations and territories. Netflix service is available at almost the whole Asia Pacific region, including Vietnam since 2016.
Illustrative photo by Daily Express.
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He also proposed signing a memorandum of understanding (MoU) between Netflix and the Ministry of Information and Communications on buying Vietnamese films to broadcast on the network, co-operating in manpower training and exporting Vietnamese movies.
Kuek also emphasized that Netflix wants to develop contents in Vietnamese and make publicity of Vietnamese motion pictures to show the world that Vietnamese movies are as good as any other country’s productions.
At the meeting, Minister Nguyen Manh Hung stressed that when it comes to doing business in Vietnam, foreign enterprises are compelled to abide by the country’s law.
Besides distributing Vietnamese films, Hung suggested Netflix to work with local movie makers to create more motion pictures, which may respond to the Vietnamese audiences entertaining demand as well as that of Netflix subscribers worldwide.
Netflix is one of the largest media service providers in the world with around 151 million registered accounts from 190 nations and territories. Netflix service is available at almost the whole Asia Pacific region, including Vietnam since 2016.
