Business economics
Creating soft power through resonance
The creative economy is evolving into a new growth driver. As a result, the press and companies must work together to create value, build trust, foster identity, and strengthen the nation's soft power.
Tourists are experiencing the "South Thang Long - Hanoi Heritage Route" tour. Photo: HNM
National soft power is not a given in the new era. It is the result of every positive gesture, every responsible brand, every in-depth article, every policy, every firm that appreciates culture, and every person that innovates on a foundation of Vietnamese values.
Culture as a development resource
In today's world, a country's competitive advantage is increasingly determined by its creative potential, ability to organise information, harness culture, and turn identity into goods, services, and brands, rather than by its natural resources, market size, or labour costs. That is the logic of the creative economy. The creative economy is inextricably linked to the market economy, yet it enriches it culturally. It is not distinct from technology but rather enhances its soulfulness. It is inextricably linked to businesses and assists them in competing not just on price, but also on identity, experience, emotion, and trust.
Vietnam has several opportunities to join more aggressively in that flow. We have a rich tradition, a diversified cultural life, a creative young workforce, a quickly rising digital market, a vibrant business community, and a press capable of having a significant societal influence. The pedestrian streets of Hoan Kiem Lake, Hoi An, Hue, Da Lat, and Bat Trang, as well as music, cinema, fashion, and culinary goods imbued with Vietnamese features, demonstrate that culture can certainly become an economic resource if properly invested in and told.
Party General Secretary and State President To Lam once stressed the importance of cultural development as our country's foundation, endogenous resource, and soft power. That is both a cultural and development orientation. Because, in the new era, a nation's power is determined not just by what it produces but also by the ideals it symbolises and the tales it tells the world.
However, digital transformation and artificial intelligence (AI) present several challenges: content copyright is more readily infringed; fake news and harmful material propagate more quickly; algorithms can reinforce negative tastes; and imitation goods can overwhelm genuine ingenuity. Without competent leadership, the creative economy might quickly be reduced to the entertainment sector or even become commodified. As a result, it is critical to not only develop more creative goods but also to create a healthy creative environment that stimulates the creativity, defends the rights, recognises the beauty, and prioritises people.
An impetus for the creative economy
In the next phase of the creative economy, the press must not only reflect but also create content, generate trust, link resources, and serve as a dialogue space between state authorities, enterprises, artists, and the general public. When businesses develop goods, services, and business models, the press may help the public understand, believe, and actively engage in that process.
In reality, when the press works alongside local governments to promote tourism, many areas become more appealing. Ha Giang province is more than just a hilly region; it is also a human and natural epic. Hue is more than simply an ancient capital; it is a heritage city that engages in communication with the culture industry. Hanoi is not just the administrative and political capital but also a creative hub, with the Old Quarter, Hoan Kiem Lake, the Red River, traditional artisan villages, and a burgeoning creative community... For businesses, culture should not be viewed as an exterior adornment of the product but rather as the foundation of their competitive advantage.
Three principles should lead the mix of journalism and business in the development of the culture sector. First and foremost, economic achievement must be linked to social value. We cannot use the term "creativity" to excuse standards violations, objectionable material, copyright infringement, or harm to the community. Next, the media must be responsible. The press should not only promote the new, unique, and "hot" but also be able to appraise culture, guide public taste, and promote virtuous principles.
Finally, cooperation must be open, particularly in the digital context, where clear distinctions between articles, public relations, and ads are required to safeguard public confidence. To do this, we must foster a creative ecosystem that includes meaningful engagement from government officials, the press, corporations, innovators, educational institutions, and the community.
I hope that the partnership between the press and businesses will help to shape a new approach: economic development without sacrificing culture; cultural development that is not separate from the economy; technological development without impoverishing people; and media development without undermining social trust. When the press understands how to tell development stories with cultural depth, businesses understand how to operate with responsibility and identity, and the government understands how to create a transparent yet principled institutional framework, Vietnam's creative economy will not only generate revenue, jobs, and new markets but also convey an image of a confident, humane, modern, and culturally rich nation.
Author: Assoc. Prof. Dr. Bui Hoai Son, full-time member of the National Assembly's Committee for Culture and Society