What are the regulations on establishment of the Film Development Support Fund in Vietnam regulated?

What are the regulations on establishment of the Film Development Support Fund in Vietnam regulated?

Pursuant to Article 42 of the 2022 Law on Cinema (Effective January 1, 2023), the establishment of the Cinema Development Support Fund is regulated as follows:

1. Cinema development support fund means a state financial fund which, apart from the state budget, is supported by charter capital, is established and operates in accordance with law; has independent financial capacity; has revenues and expenditures which do not coincide with the revenues and expenditures of the state budget; has legal personality, has its own seal and account, and is decided by the Prime Minister to establish and approve an organization and operation charter.

2. This Article shall be specified by the Government.

What is the purpose of the Film Development Support Fund in Vietnam ?

In Article 43 of the 2022 Law on Cinema (Effective January 1, 2023), the purpose of the Film Development Support Fund is to:

1. Support for the project of producing experimental films, debut films and films of young authors.

2. Support for authors, projects on film production, excellent Vietnamese films participating in film festivals, film awards, film competitions, film fairs, film shows and film weeks abroad.

3. Support other activities to develop cinema.

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