The press is facing many challenges in terms of revenue.

On the afternoon of March 1, the National Assembly's Committee on Culture and Education worked with the Ministry of Information and Communications (MIC) on press economics and the completion of press policies and laws. Minister of Information and Communications Nguyen Manh Hung and Chairman of the National Assembly's Committee on Culture and Education Nguyen Dac Vinh co-chaired the meeting.

According to the report of the Press Department, currently the whole country has 6 main multimedia press agencies, 127 newspapers, 673 magazines; 72 radio and television agencies.

Press agencies are facing difficulties and challenges with social networks, advertising revenue is declining, especially for print newspapers. According to a survey by the Ministry of Information and Communications with 159 press agencies, in the 2 years of the pandemic, revenue has decreased, and revenue of radio and television stations in 2021 decreased by 10% compared to 2020. Many people expect revenue from charging for electronic newspaper content, but it still takes a long time for this source of revenue to be sustainable.

Vice Chairman of the National Assembly's Committee on Culture and Education Dang Xuan Phuong.

In addition to amending the 2016 Press Law (expected to be submitted to the National Assembly for consideration and approval of the draft law on amendments and supplements in 2025), the Press Department also proposed amending a number of laws related to taxes, press advertising; competition control, anti-monopoly of cross-border platforms. At the same time, it proposed to increase funding resources, recommending ministries, branches and localities to increase orders and assign tasks to press agencies (from less than 0.5% to 0.65% of total regular expenditures of the State budget).

At the working session, leaders of units of the Ministry of Information and Communications and leaders of a number of press agencies raised the current situation of the press economy, difficulties, obstacles and challenges in the context of competition with social networking platforms...

Vice Chairman of the National Assembly's Committee on Culture and Education Dang Xuan Phuong said the challenge facing the press is how to maintain its role and function as an essential means of information for society.

According to the provisions of the current Press Law, the press must comply with its principles and purposes. The Vice Chairman of the National Assembly's Committee on Culture and Education said that there must be an appropriate classification of agencies according to their operational goals. "Not all press agencies pursue commercial goals, but there is a part that cannot maintain autonomy without commerce."

From here, Mr. Phuong proposed that the Ministry of Information and Communications needs to build a comprehensive, long-term press economic strategy. "Press economy and media economy must also become a cultural industry," Mr. Phuong emphasized.

Deputy Minister of Information and Communications Nguyen Thanh Lam.

Deputy Minister of Information and Communications Nguyen Thanh Lam commented that the State often orders press agencies to carry out essential information and propaganda tasks, but they are usually current events, political commentary, and politics. Because of this understanding, the State will not order other programs. Meanwhile, programs such as entertainment, television dramas, etc., but have the effect of educating politics, culture, and ideology; in terms of media economics, these are the most profitable investment products "because their life cycle is longer than information and propaganda".

Deputy Minister Nguyen Thanh Lam also pointed out the fact that press agencies that have a great influence on society are completely autonomous, operating without resources ordered from the State. We cannot let "large press agencies be left to be autonomous and swim on their own" - Deputy Minister Nguyen Thanh Lam said.

The National Assembly's Committee on Culture and Education requested the Ministry of Information and Communications to speed up the proposal to amend the 2016 Press Law; at the same time, continue to research and summarize practices to have a roadmap to build a (new) Law regulating the entire media sector, meeting practical requirements.

Committee members said that it is necessary to continue researching and perfecting the theoretical basis to classify and define the types of press agencies and magazines and the mechanisms and policies appropriate to each type... Some solutions for the press economy such as digital transformation of press, enhancing the role of technology; having a mechanism to order press in policy communication... were raised and proposed by many delegates.