Vietnam: Top 10 developing economies in the world exporting leading creative goods

With creative goods export value reaching 14,153 million USD, Vietnam is in the Top 10 developing economies in the world exporting creative goods.

Vietnam's creative goods exports reached 14,153 million USD

On the morning of March 12, in Hanoi , the Central Institute for Economic Management (CIEM) in collaboration with the German International Cooperation Agency - sponsored by the German Federal Ministry for Economic Cooperation and Development (GIZ) co-organized the Consultation Workshop "Creative Economic Development: Trends, international experiences and recommendations for Vietnam".

The Central Institute for Economic Management (CIEM) organized a consultation workshop on “Creative economic development: Trends, international experiences and recommendations for Vietnam”.

Speaking at the workshop, Mr. Nguyen Anh Duong - Head of the General Research Department, Central Institute for Economic Management Research said: The world's creative goods export increased from 208 billion USD in 2002 to 524 billion USD in 2020, in which, Asia has been the largest exporting region since 2007.

In particular, according to Mr. Nguyen Anh Duong, the proportion of creative goods has changed significantly from 2006 to present. Exports of CDs, DVDs, tapes, newspapers and other printed materials have decreased significantly, while exports of media and video game recordings have increased sharply. The proportion of creative goods in total exports in the Asian region has increased, while in other regions such as Europe, North America and Latin America, there has been a tendency to decrease.

According to statistics from CIEM representatives, the Top 10 economies with the highest creative goods exports include: the US, Italy, Germany, France, the UK, South Korea, Poland, Switzerland, the Netherlands, and Japan with a total of 176,704 million USD, accounting for 33.7% of the total creative goods exports in the world.

Meanwhile, the Top 10 developing economies exporting the world's leading creative goods include: China, Hong Kong (China), Vietnam, India, Taiwan (China), Malaysia, Singapore, Turkey, United Arab Emirates, Thailand with total creative goods exports reaching 276,997 million USD, accounting for 33.7% of the world's creative goods exports.

Thus, according to experts from the Central Institute for Economic Management, Vietnam is in the Top 3 developing economies in the world exporting leading creative goods with 14,153 million USD.

World creative goods exports increased from $208 billion in 2002 to $524 billion in 2020, with Asia being the largest exporting region since 2007.

Opportunities for Vietnam to develop creative economy

According to CIEM, creative economic sectors include: handicrafts; fashion and design; culinary arts; performing arts; visual arts; film and media; information technology and software engineering; tourism and cultural heritage; music and entertainment; publishing and literature; digital content creation; digital marketing and advertising. In particular, the factors supporting the creative economy in Vietnam are a young, technology-savvy population; favorable government policies; rich cultural heritage; rapid digitalization and increased integration with the global economy.

Economic experts say that recently, a number of policies related to the development of the creative economy in Vietnam have been issued, including the main group related to the general policy of the Party and State on investment incentives, tax incentives, land and operating premises incentives, laws on trade; laws on science and technology and laws on intellectual property.

Along with that are policies for creative economic development at the industry level such as: Regarding performing arts, there is Decree No. 144/2020/ND-CP; Decision No. 14/2015/QD-TTg.

Regarding the radio and television industry, there is Decision No. 512/QD-BTTTT proposing amendments and supplements to the 2016 Press Law; Strategy for developing the online game sector for the period 2022-2027. The information technology industry has the 2006 Information Technology Law; the handicraft sector has Decision No. 801/QD-TTg in 2022 of the Prime Minister approving the Program for preserving and developing Vietnamese craft villages for the period 2021-2030.

Although there are many preferential policies and mechanisms for funding creative economic and innovation projects, according to Mr. Nguyen Anh Duong, there are still many obstacles in implementing creative economic projects in Vietnam. Specifically, surveys in some localities such as Phu Tho, Son La, Phu Yen show that creative economy is still a very new concept and has not been consistently understood.

On that basis, to take advantage of opportunities and promote the development of the creative economy in Vietnam, economic experts believe that it is necessary to refer to the experiences of developed countries. For example, in Korea - Top 10 economies with the world's leading creative goods export, the creative economy has been a major agenda and policy of this country since 2013. The Korean government considers the creative economy as a new economic strategy, creating new industries and markets by integrating and adjusting the imagination and creativity of science, information technology and communications, creating sustainable jobs through promoting the media industry. Thanks to that, some creative industries in Korea have high export levels such as: Games with an export level of 2.9 billion USD in 2014.

Or in the United States, 4.01% of all businesses and 2.01% of workers are currently engaged in various creative industries. Arts and culture economic activities account for 4.4% of GDP, equivalent to 1.02 trillion USD in 2021. To support workers and businesses in the creative industry, in 2022, the US Senate and House of Representatives introduced the Promoting Local Arts and Creative Economy Workforce (PLACE) Act by increasing federal resources and expanding federal benefits for those who use creativity and skills in their jobs; empowering creative workers, promoting growth in new and existing businesses, and promoting the export of American culture abroad; establishing an interagency council to promote the development of the creative economy.

According to Industry and Trade Electronic Newspaper

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