IMAX and a Korean company have agreed on a deal to open Vietnam’s first two super-sized screens.
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Vietnam’s cinematic history dates back to around 1910 when Léopold Bernard built a chain of theatres serving southern Vietnam. Though the movie business faltered after half a century of war, the country’s economic growth over the past 20 years has created a new generation of audiences and a round of massive funding to develop the domestic film industry.
The government has earmarked US$309 million for the Department of Cinematography through 2020 under which 57 new, high-end cinemas will be built. Authorities hope that the money can help give government-owned cinemas a boost in order to compete with successful privately run theaters such as CGV, Lotte, Galaxy, BHD Cineplex, and Platinum Cineplex.
According to the Hollywood Reporter, it will be Korean-owned CGV (which acquired MegaStar in 2011) that will bring IMAX screens to Vietnam, with the first opening in Saigon as part of a new real estate development.
The location of the second screen has yet to be announced. The company currently has operations in Hanoi, Hai Phong, Dong Nai, Saigon, Da Nang, Quang Ninh, Can Tho, Vung Tau, Binh Dinh and Binh Duong.
"CJ CGV is a world-class exhibitor and powerful force in the Asia Pacific entertainment market that has helped strengthen the IMAX brand throughout the region," IMAX managing director, Asia Pacific,Don Savantsaid in a press release Wednesday.
[Photo via Smithsonian]
