According to Minister of Information and Communications Nguyen Manh Hung, social media advertising makes up 80 percent of online advertising, causing a significant decrease in press agency revenue. Meanwhile, the number of press agencies has increased to 880.
In 2023, the Prime Minister issued a directive on policy communication, identifying that governments at all levels must consider policy communication as one of their tasks, with an apparatus and an annual budget to order the press.
This change will provide additional sources for press agencies to implement economic journalism. Besides, the press must also update and apply technology to compete with social media.
Deputy Do Chi Nghia, Standing Member of the National Assembly's Committee for Culture and Education emphasized that revolutionary journalism needs not only financial support from the State but also the development of sustainable revenue sources from the public and other services.
Additionally, the press agencies must research better ways to meet the needs of the public as they currently have multiple choices.
The press agencies must proactively approach the public flexibly in line with the fast-changing media market; innovate and take advantage of technology and artificial intelligence to enhance their operational efficiency.
The journalism training should enhance traditional journalism skills and provide multi-platform and multimedia knowledge.
National Assembly deputy for Ho Chi Minh City Tran Hoang Ngan mentioned the crucial role of the press in propaganda work in general and policy communication in particular.
The press now faces economic challenges and difficulties as advertising revenue declines and competition with social media increases. Therefore, the press agencies must focus on human resources and invest strongly in modern technology.
The state should have preferential policies and provide maximum support for press agencies to develop and effectively perform their functions and duties. Corporate income tax for press agencies should be applied at the lowest possible level.
Deputy Prime Minister, Minister of Finance Ho Duc Phoc indicated that in order to develop the press, it is necessary to complete and amend the Press Law and related legal policies; strengthen training and workshops for reporters to keep up with technology and the elements of the era; review and tighten the criteria, principles and purposes of each newspaper and magazine, particularly innovating the financial mechanism for press agencies, such as taxes.
The government also proposed to the National Assembly to facilitate press agencies' operation by reducing corporate income tax for print and electronic newspapers to 10 percent in the draft amendment of the Corporate Income Tax Law.
