Film frenzy: The nation's cinemas can now satisfy the demands of moviegoers and make a profit. — VNS Photo

HCM CITY (VNS)— With favourable government policies and an increase in audience numbers, foreign and local investors have been more willing to spend more money in the entertainment field.

Last year, the private Platinum M V P Company opened two Platinum Cineplex, in The Garden shopping centre and the Vincom building in Ha Noi.

The company's largest Platinum Cineplex complex in Vincom tower has seven luxury cinemas, with 1,300 seats, showing foreign films with the original languages and Vietnamese subtitles.

"We will open two cinema complexes in HCM City next year. Both will be located in newly opened shopping centres downtown," Dang Ngoc Quang, head of the Platinum M V P ‘s public relations office, said.

The South Korean-owned Lotte Cinema plans to open two cinema complexes in Ha Noi and HCM City this month, while Megastar, the country's biggest cinema owner, will open its 10th cinema complex in HCM City later this year.

Foreign and domestic investors have poured a great deal of money into cinemas in Ha Noi, Hai Phong, Da Nang, HCM City, and Bien Hoa.

The country now has 93 cinema complexes with 214 cinemas, including 21 complexes owned by private and joint-venture companies, according to a recent survey by the Department of Cinematography.

Nguyen Van Hong, director of the Viet Nam Film Distribution and Screening Company (Fafilm) in HCM City, said that State-owned cinemas must have preferential conditions in order to build and upgrade infrastructure facilities.

The company imported 120 foreign films last year and 170 this year.

With quality services, State-owned cinemas can satisfy the demands of movie-goers as well as make a profit.

A few years ago, the HCM City Cinematography Company invested more than VND1billion (US$50,000) to run the Dai Quang Cinema in District 5.

With its quality facilities and beautiful decor, Dai Quang has become one of most attractive entertainment sites for youth.

To lure Vietnamese audiences to the big screen, the cinema often shows Hollywood blockbusters, Asian movies, and latest and best local movies.

The company's VND12 billion ($574,000) cinema complex, Dong Da in District 5, includes a game section, video and CDs store, and two quality cinemas. These have helped to attract larger audiences.

The company has invested in upgrading and rebuilding other cinemas, such as Thang Long A, Quoc Thai, Van Hoa and Vinh Quang. — VNS