DatVietVAC and Da Nang turn cultural resources into economic driving forces
Da Nang - DatVietVAC proposes a strategy to transform cultural resources into business models capable of creating value on a larger scale.
Ms. Nguyen Thi Anh Thi - City Party Committee Member, Vice Chairman of Da Nang City People's Committee (3rd from left) and Mr. Dinh Ba Thanh - Founding Chairman of DatVietVAC (3rd from right) sign a memorandum of understanding. Photo: DatVietVAC
Lessons from K-Culture
On October 2nd, Da Nang City People's Committee organized a conference to promote the development of Da Nang's cultural industry sectors to connect resources, attract investment and gradually make the cultural industry one of the city's important economic sectors.
DatVietVAC has experience and capacity to organize Mega Concerts in many provinces and cities. Photo: DatVietVAC
Attending the conference were city leaders; representatives of leaders of departments under the Ministry of Culture, Sports and Tourism; leaders of associations, corporations, businesses, experts related to the field of cultural industry development; Korean partners.
At the conference, Mr. Dinh Ba Thanh - Founding Chairman of DatVietVAC presented a very noteworthy presentation: "From K-Culture to DN-Culture - Looking at Da Nang Cultural Industry".
According to Mr. Dinh Ba Thanh, K-Culture (Korean culture) is a testament to the ability to transform cultural values into economic values on a large scale.
South Korea's success comes not only from popular content, but from the ability to expand the value of content to concerts, fashion, cosmetics, cuisine, digital platforms and many consumer fields, with hundreds of millions of fans worldwide.
From that perspective, he believes that the cultural industry must not stop at exploiting cultural resources, but must turn those resources into products, IP and value chains capable of commercialization and reaching out to the international market.
Building Da Nang Culinary Center
Da Nang - Hoi An possesses a strong foundation in night economy, cuisine and heritage, with vibrant entertainment and culinary activities but still developing fragmentedly, lacking planning, support mechanisms, focused promotion strategies and data to measure efficiency.
Mr. Dinh Ba Thanh - Founding Chairman of DatVietVAC spoke at the conference. Photo: DatVietVAC
While many cultural values with their own identity are still mainly exploited on a small scale, not yet standardized and packaged into brands capable of reaching out to the national and global markets.
This gap lies in the ability to connect and transform resources into value. The city needs businesses with leadership capacity to gather scattered resources, turn cultural products into IP, build markets and gradually bring indigenous values to the world.
From the experience of businesses, Mr. Dinh Ba Thanh proposed 3 orientations for Da Nang cultural industry development including: Converting from spontaneous development to proactively building cultural - entertainment - tourism and cuisine on a transnational scale; synchronously integrating 4 pillars: culture - tourism - F&B - music events on a national and international scale (Mega Concert); branding and internationalizing culinary heritage values and unique local specialties.
One of the proposed directions is to build a "Da Nang Culinary Center", connecting with culinary festivals and Mega Concerts, thereby forming experiential products capable of connecting culture, tourism and consumption.
Cultural values and local specialties such as cao lau, bai choi, Hoi An culture, Co Tu culture or handicrafts can continue to be created and developed into products.
This vision and strategic orientations were concretized right at the conference, when Da Nang City People's Committee and DatVietVAC signed a Memorandum of Understanding on cooperation, establishing DatVietVAC as a comprehensive strategic partner of the city in cultural industry development.
Accordingly, DatVietVAC will participate in consulting and implementing the strategy and plan to develop Da Nang's cultural industry in the period 2026-2032 and subsequent periods, and at the same time coordinate to organize national and international-scale music festivals in the city.
