Vietnam, Japan announce $198.4mn joint venture to build 50 premium cinema complexes
Thursday, August 01, 2024, 14:10 GMT+7
A joint venture between two Vietnamese and Japanese partners has just announced an opulent cooperation deal to invest in film, entertainment, and cinemas in Vietnam, including the construction of 50 premium cinema complexes across the Southeast Asian country.
Vietnam’s Beta Media and Japan’s Aeon Entertainment officially unveiled the establishment of the joint venture on Wednesday afternoon.
Their cooperation deal is worth more than VND5 trillion (US$198.4 million), according to Vietnam Economic News, the mouthpiece of the Vietnamese Ministry of Industry and Trade.
This venture will focus on developing and operating a chain of more than 50 premium cinema complexes under the Aeon Beta Cinema brand by 2035, with the first expected to open in 2025.
It also aims to make a strong entry into film production and distribution.
Nobuyuki Fujiwara, chairman of Aeon Entertainment, expressed his intention to harness the strengths of both companies to provide the best entertainment and movie-watching experiences to audiences in Vietnam.
He is confident that the Vietnamese film industry will continue to grow and sees substantial opportunities for Japan to contribute.
Currently, Vietnam is the primary focus of his company’s investments.
Aeon Entertainment likes to make substantial investments in both cinema complexes and content to enhance the Vietnamese cinema landscape.
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