The US-based media service provider has expressed its desire to strengthen its footing in the country through proper investments in human resources and film coproduction for export purposes.
At the meeting with the Minister of Information and Communication Nguyen Manh Hung yesterday, Netflix managing director for Asia Pacific Kuek Yu-Chuang stressed that the media service provider is keen on investing in the local market and committed to fully complying with local regulations and paying appropriate taxes for its operation here.
Yu-Chuang has accordingly proposed a memorandum of understanding (MOU) to be signed between the ministry and Netflix on purchases of locally made movies to enrich its library of films and television programmes.
The MOU also extends to Netflix providing human resource training and supporting local organisations to export Vietnamese-made films to other markets.
In response to Netflix’s proposal, Hung suggested that apart from buying films made in the country, the company should also collaborate with local film producers to produce movies and programmes that meet both the local demands and international tastes.
Netflix is the world’s leading internet entertainment service with over 151 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages.
Netflix services are available almost everywhere except in mainland China (due to local restrictions) as well as Syria, North Korea, Iran, and Crimea (due to US sanctions). The company has offices in the Netherlands, Brazil, India, Japan, and South Korea. Netflix is a member of the Motion Picture Association of America (MPAA).
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