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Friday, July 26, 2024

Night-time economy development grapples with inadequacies

The Saigon Times

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HCMC – Despite the night-time economy showing a lot of potential, the country’s five biggest cities are finding it tough to develop it due to inadequate investment in infrastructure, according to the Departments of Industry and Trade of these cities.

The HCMC Department of Industry and Trade (DOIT) held the fifth conference of the industry and trade sector 2022 between five centrally-run cities on November 16.

According to a representative of Danang, the city has had a hard time developing the night-time economy as it has no abundant products and services, and most of the projects serving the night-time activities are small-sized and spontaneous.

Other factors such as culture, traditional management and concerns over the night-time economy’s negative impacts have hindered the development of night-night services.

The five centrally-run cities share common obstacles as they have the same socioeconomic development level, said a deputy director of HCMC DOIT, adding that the night-time economy can help boost economic growth if materials and infrastructure are exploited effectively. However, all activities serving the development of the economy are currently focused on the daytime, resulting in traffic congestion and noise pollution.

Currently, there is no statutory provision detailing the management and operation of the night-time economy. Therefore, municipal governments have no legal basis to advise businesses when they register their projects.

In the coming time, HCMC will focus on building night shopping quarters, city tours by boat and food courts to develop this economic model. Districts 1, 7, 11, Phu Nhuan and Can Gio District will be the first to run the trial program.

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