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Tuesday, June 18, 2024

Netflix to set up company in Vietnam

By N. Tan

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HCMC – Netflix is carrying out procedures with the Ministry of Planning and Investment over the establishment of a business presence in Vietnam.

The Authority of Broadcasting and Electronic Information under the Ministry of Information and Communications gave the above information, cited the Vietnam News Agency.

Netflix is establishing a company in Vietnam to comply with Government Decree 71 on the management, provision and use of radio and television services which came into force on January 1 this year.

Pursuant to the decree, foreign organizations providing on-demand radio and television services directly to users without storage devices must get licenses to operate in Vietnam in the form of a legal entity like local ones.

The issuance of Decree 71 is to ensure equal treatment in the management of radio and television services provided by local businesses and foreign businesses providing cross-border TV services to viewers in Vietnam.

Netflix is the world’s leading entertainment services provider, with over 222 million subscribers in 190 countries and territories, covering TV programs, TV reports, movies and mobile games of different types and in various languages.

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