Where does Vietnamese cinema stand in the world?

Vietnam’s film industry is one of the rare markets in Asia to post remarkable growth after the COVID-19 pandemic and ranks among the world’s leaders in terms of local market share.

Yet that growth comes with a paradox: a film industry can dominate at home while remaining largely absent on the global map.

In 2025, with total box office revenue reaching VND5.593 trillion (US$215 million), Vietnam’s film market surpassed Thailand to become the second-largest in Southeast Asia, behind Indonesia (at more than $300 million).

On a global scale, Vietnam’s film market ranks roughly between 20th and 25th.

Even so, in terms of international standing, Vietnamese cinema still lags far behind Thailand, which leads the region in exports.

In 2025, the film ‘How to Make Millions Before Grandma Dies’ became a breakout hit across Southeast Asia and China, selling rights to 129 international markets and grossing $73 million worldwide.

It also made the Academy Awards shortlist.

By contrast, the highest-grossing Vietnamese films internationally — ‘Mai’ and ‘Bunny!!’, both by Tran Thanh — earned only about $1.5 million to $2 million, largely serving overseas Vietnamese communities.

Strong at home, weak abroad

From an internal perspective, Vietnam’s film industry is experiencing an unprecedented growth phase: box office revenues continue to set records, domestic films overwhelmingly dominate the home market, and the number of new projects is rising at breakneck speed.

From the outside, however, Vietnam’s presence on the global cinema map remains faint.

Vietnamese films rarely appear in official selections at top-tier international film festivals, and even more rarely generate enough impact to break into global markets.

This paradox raises a difficult question: Does domestic market growth truly reflect the strength of a national cinema, or is it merely a sign of a developing phase?

One of the core reasons behind this paradox lies in how Vietnam’s film market operates.

As the domestic box office grows rapidly, most producers tend to prioritize projects that can quickly recoup investment, cater to mass tastes, and maximize ‘golden release windows’ throughout the year.

This approach is not wrong. In fact, it is necessary during post-pandemic recovery.

But it has also inadvertently narrowed space for artistic experimentation or projects with the potential to travel internationally.

In other words, Vietnamese cinema is expanding in market breadth but still lacks the depth needed to leave a lasting mark on the global film landscape.

In recent years, several Vietnamese films have made it to major international film festivals such as Cannes, Venice, and Berlin, as well as leading Asian festivals like Busan and Tokyo, earning awards for debut works by young directors.

However, aside from the independent film ‘Rom’ by director Tran Thanh Huy, these films are often too distant from domestic audience tastes, resulting in low box office returns.

There are also no parallel policies, support funds, or international distribution strategies accompanying these films, leaving directors pursuing independent or art-house paths increasingly isolated and with limited opportunities to go further.

Vietnamese cinema is racing in the domestic box office arena but lacks a long-term strategy and has yet to generate powerful waves like the Korean Wave or Thailand’s horror wave.

From domestic overload to global limits

The recent phenomenon of five Vietnamese films crowding the Reunification Day (April 30) and International Workers’ Day (May 1) holiday clearly reflects a structurally immature industry — one where production and distribution decisions remain short-term, poorly coordinated, and almost entirely lacking a unified strategy.

This very mode of operation also explains why Vietnamese cinema struggles to break into global markets.

When the entire production system is designed to maximize short-term domestic revenue, all other factors — from script development and depth of investment to international distribution strategies — become secondary.

Clearly, the global limitations of Vietnamese cinema do not stem from a lack of talent or stories, but from the structure of the domestic market itself.

One visible symptom is the rapid proliferation of certain commercially successful genres over short periods.

Once a few films succeed, the entire market quickly follows the formula, compressing production timelines to capitalize on trends.

The recent surge in horror films is a prime example: alongside a handful of well-crafted works, many projects have been rushed into production within months, raising serious concerns about quality.

This phenomenon is not new.

Vietnamese cinema went through a similar cycle in the 1990s with the ‘instant noodle films’ trend, marking a period of rapid but unsustainable growth that ultimately led to decline.

What is happening today, on a larger scale, suggests a familiar cycle: rapid growth, trend-chasing, and the risk of self-erosion.

Vietnam’s film market is growing rapidly but it is simultaneously revealing a critical limitation: domestic success does not automatically translate into international standing.

Without adjustments in production approaches, investment strategies, and positioning, this gap will continue to widen, even as domestic box office revenues keep breaking records.

Vietnamese cinema now stands at a challenging crossroads: continue maximizing a fast-growing domestic market or invest in a long-term strategy to reach the world.

These paths are not mutually exclusive. The issue lies in how they are connected.

Ultimately, a film industry can only be considered mature when it not only captivates domestic audiences but also tells its stories to the world in ways the world is willing to hear.

Only then can Vietnamese cinema truly claim its place on the global map.