Vietnam’s first game festival held in HCM City

April 02, 2023 | 17:13

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Vietnam GameVerse 2023, the first of its kind for game lovers, kicked off in Ho Chi Minh City on April 1.

Vietnam’s first game festival held in HCM City | Society | Vietnam+ (VietnamPlus)

At the Vietnam Game Forum. (Photo: VNA)

HCM City - Vietnam GameVerse 2023, the first of its kind for game lovers, kicked off in Ho Chi Minh City on April 1.

The two-day event aims at creating an environment for game producers and distributors to introduce games to the market, and opening up opportunities to connect domestic and foreign game enterprises and investors.

Within the framework of the event, a Vietnam Game Forum was organised, bringing together representatives of management agencies, leading experts in the field, game studios, and domestic and foreign game distributors. Participating experts shared experience and solutions towards creating a healthy environment for the Vietnamese game industry to have more opportunities to develop in the future, contributing to the digital economy in Vietnam.

According to Director of the Authority of Broadcasting, Television and Electronic Information Le Quang Tu Do, the Ministry of Information and Communications has set a plan that the game industry's revenue will increase to 1 billion USD in the next five years from the current figure of 600 million USD.

Vietnam currently has 28.4 million game players with 200 producers and distributors.

There are also Game Arena competitions, the awarding ceremony of the 2023 Game Awards, a game workshop, and a cosplay contest within the framework of the two-day event.

Gamers self-learning strategies for play-to-win growth

While the play-to-earn gaming market in Vietnam is demonstrating strong growth momentum, a sustainable funding style and a symbiotic ecosystem of rewards for both investors and developers will be required to help bring it to the mainstream.

GameFi developers insist quality can aid comeback

Developers of GameFi projects in Vietnam remain optimistic about the industry despite the current dearth of investment.

Legal bottlenecks must be resolved for Vietnam’s online gaming arena to win

Online game product developers in Vietnam are facing many legal problems related to their activities. The first is that the current regulations on licensing procedures for online games are often very complicated and lengthy.

Serious business ahead for gaming

Gaming in Vietnam continues to be exceedingly popular, but developers are still in a weak position due to outdated regulations.

Foreign resources and market know-how give rise to gaming

The market understanding of Vietnamese online game developers combined with the resources of foreign partners are expected to create momentum for the country’s online gaming industry.

By VNA

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