Potential of the gaming industry in Vietnam
According to the Ministry of Information and Communications, the global gaming industry is expected to reach $212.4 billion in revenue by 2026. Mobile games account for 42% of total revenue. Countries such as China, the US and Japan are the largest gaming markets.
In Vietnam, the domestic game industry's revenue will reach more than 507 million USD in 2023 and an additional 200 million USD from exported games.
Vietnam ranks 5th in Southeast Asia in terms of mobile game revenue and 3rd in terms of number of players, with more than 54.6 million players in 2023. According to Google's forecast, in 2026, revenue from games and applications in Vietnam will reach 2.7 billion USD.
With the development of science and technology and market potential, the Ministry of Information and Communications has set a goal of increasing the game industry's revenue to 1 billion USD by 2030, ranking 3rd in Southeast Asia; reducing corporate income tax from 20% to 10% for game production and distribution enterprises; increasing the proportion of domestic G1 games to 20%, and G2, G3, G4 games to 80%, expanding the number of Vietnamese games on the international market to 8,000 games; implementing 20 game projects applying Blockchain, Metaverse, with the goal of having at least 2 projects in the top 10 downloads on global applications...
The Ministry of Information and Communications also wants to build at least 5 universities and 10 formal training centers for the gaming industry with the capacity to train 5,000 university-level workers and 10,000 vocational workers; build a Vietnamese application store, organize events to promote the gaming industry; control the content and playing time of young players, and prevent illegal games from reaching a rate of over 90%...
Finding solutions for the gaming industry
Despite its great potential, the Vietnamese gaming industry is still facing many challenges such as social prejudice, lack of support from the state, an unsynchronized legal framework, and many businesses have to release games abroad to avoid legal barriers in the country...
Besides, the rampant pirated games and copyright violations also negatively affect businesses.
Faced with that situation, the Department of Information and Communications of Ho Chi Minh City will coordinate with relevant parties to organize a "Conference on implementing legal regulations on the management, provision and use of electronic game services on the Internet" on the morning of November 6.
The event will have representatives from the Ministry of Information and Communications, Ho Chi Minh City Bar Association, Ho Chi Minh City Business Association, game publishing enterprises, public electronic game business owners, etc. attending.
Through the workshop, the Organizing Committee wants to promote propaganda and dissemination of relevant legal documents to combat, prevent and remove copyright-infringing games, unlicensed games, gambling and violent games, and intellectual property infringement on the Internet.
The parties will also review and coordinate to prevent illegal game advertising to protect the interests of businesses doing business in electronic games on the Internet, especially in Ho Chi Minh City.
The workshop will also deploy legal regulations on the management, provision and use of online electronic game services according to relevant decrees of the Government, circulars of the Ministry of Information and Communications, etc.
Through the workshop, management agencies will assess the impacts, advantages and limitations of policy mechanisms, and on that basis propose effective solutions, perfect the legal system to support game production and distribution enterprises to improve business efficiency and competitiveness in the market...
