The Cinematographic Development Assistance Fund to be established by the Decision of the Prime Minister of Vietnam? What are the principles of the Cinematographic Development Assistance Fund?
- What is the current situation of the Cinematographic Development Assistance Fund of Vietnam?
- The Cinematographic Development Assistance Fund to be established by the Decision of the Prime Minister of Vietnam?
- What are the changes in purposes of the Cinematographic Development Assistance Fund of Vietnam?
- What are the principles of the Cinematographic Development Assistance Fund of Vietnam in the near future?
What is the current situation of the Cinematographic Development Assistance Fund of Vietnam?
Pursuant to Article 8 of Decree 54/2010/ND-CP stipulating as follows:
“Article 8. Establishment and operation of the Cinematographic Development Assistance Fund (detailing Article 6 of the Cinematography Law)
1. The Prime Minister shall set up the Cinematographic Development Assistance Fund for:
a/ Rewarding films of high ideological and art values and social effects under the Fund’s organization and operation charter:
b/ Supporting the production of experimental art films and directors' first films after consulting the Screenplay Appraisal Council under the Ministry of Culture, Sports and Tourism;
c/ Supporting the writing of screenplays, organization of writing camps, organization of field trips for artists and organization of scientific workshops: supporting scientific researches, overseas training of talented cinematographic personnel and overseas introduction of Vietnamese film with a view to encouraging and promoting the development of the national cinema industry.
2. The Cinematographic Development Assistance Fund is an independent cost-accounting unit, operates for not-for-profit purposes and self-finances its operation. It has the legal entity status, seal and accounts at the State Treasury and banks.
3. The Cinematographic Development Assistance Fund specified in Clause 1 of this Article is formed from:
a/ State capital from cultural non-business budgets. Annually, based on its operation efficiency, the Fund may receive state supports under current law;
b/ Voluntary contributions or financial supports from domestic and foreign agencies, organizations and individuals and other lawful incomes:
c/ Sales of state-funded films.
4. The Minister of Culture. Sports and Tourism shall, after reaching agreement with the Minister of Finance, promulgate an organization and operation charter of the Cinematographic Development Assistance Fund.”
Accordingly, the Cinematographic Development Assistance Fund of Vietnam will be established and operated according to the above regulations.
The Cinematographic Development Assistance Fund to be established by the Decision of the Prime Minister of Vietnam? What are the principles of the Cinematographic Development Assistance Fund?
The Cinematographic Development Assistance Fund to be established by the Decision of the Prime Minister of Vietnam?
Pursuant to Article 42 of the Law on Cinematography 2022 stipulates as follows:
“Article 42. Establishment of the Cinematographic Development Assistance Fund
1. Cinematographic Development Assistance Fund is an off-budget state financial fund with charter capital support from the State, established and operated in accordance with law; have independent financial ability; have revenue sources and spend tasks that do not coincide with state budget revenues and expenditures; have the legal status, seal, separate account, established by decision of the Prime Minister, approved the Charter of organization and operation.
2. The Government shall detail this Article.”
Accordingly, the Prime Minister will have the authority to decide on the establishment of the Cinematographic Development Assistance Fund in the near future.
What are the changes in purposes of the Cinematographic Development Assistance Fund of Vietnam?
Pursuant to Clause 1, Article 6 of the Law on Cinematography 2006 stipulates the operational purposes of the current Cinematographic Development Assistance Fund of Vietnam as follows:
“Article 6. Cinematographic Development Assistance Fund
1. The Cinematographic Development Assistance Fund shall be set up and used for the following activities:
a/ Rewarding films of high ideological and art values;
b/ Supporting the production of experimental art films and directors' first films which are selected for production;
c/ Supporting other activities for cinematographic development.”
Accordingly, at present, the Cinematographic Development Assistance Fund will be used for the above purposes.
However, the Cinematographic Development Assistance Fund will be used for the purposes specified in Article 43 of the Law on Cinematography 2022 as follows:
“Article 43. Purpose of the Cinematographic Development Assistance Fund
1. Support for projects to produce experimental films, first films, films of young producers.
2. Support for excellent Vietnamese film and film creators and projects to participate in film festivals, film awards, film contests, film fairs, film programs, and film weeks abroad
3. Support other activities for cinematographic development.”
Accordingly, the new regulations will no longer reward films with high ideological and artistic value. Instead, the Cinematographic Development Assistance Fund will support excellent Vietnamese film and film producers and projects to participate in film festivals, film awards, film contests, film fairs, film programs, and film weeks abroad.
What are the principles of the Cinematographic Development Assistance Fund of Vietnam in the near future?
Pursuant to Article 44 of the Law on Cinematography 2022 stipulates as follows:
“Article 44. Operational principles of the Cinematographic Development Assistance Fund
1. Nonprofit; Preserve charter capital and cover expenses.
2. Carry out revenue, expenditure, finalization, financial and asset disclosure and accounting work in accordance with law.
3. To submit to the state inspection, inspection and audit of the activities of the Cinematographic Development Assistance Fund.
4. Ensure publicity, transparency, thrift, efficiency, use for the right purposes and in accordance with the provisions of law, not overlap with the state budget allocated for cinematographic activities. The Fund does not support film production projects funded by the state budget.
5. The previous year's budget balance of the Cinematographic Development Assistance Fund shall be carried over to the next year for continued use.”
Accordingly, the Cinematographic Development Assistance Fund will be operated based on the above principles in the coming time.
The Law on Cinematography 2022 will take effect from January 1, 2023.
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