2007 Update - Vietnam Advertising Industry After two decades of development, since Vietnam's doi-moi policy was implemented in 1986, Vietnam's advertising companies are still far from gaining a significant share of industry revenue estimated about $US 1 billion. Among the main reasons are shortage of skilled work force, experience, financial capability, and management. According to industry experts, Vietnam has not formulated a clear long-term strategy to compete with foreign advertising companies. Despite the attractive salary offers, between $US 500-1,000 per month, domestic companies are having problems recruiting competent workers since universities and colleges have not produced up-to-date and capable advertising graduates. There are more than 1,000 domestic advertising companies that hold about 15% of market share, while the other 30 major foreign advertising firms hold some 80% of Vietnam advertising market. Many multi-national corporations such as Coca-Cola and Unilever are using highly regarded international advertising companies. Among the successful firms are: US-based J. Water Thompson and Ogilvy & Mather. Figures released by the government sated that some 80 percent of revenue was in television and newspaper advertisements, and about 10 percent from billboards. Vietnam has some 60 broadcast stations, and more than 600 newspapers in Vietnam. Among the most popular stations are: Viet Nam Television (VTV) and Ho Chi Minh City Television (HTV). According to Vietnam's Ministry of Culture and Information, under WTO commitments, foreign-invested advertising firms will be permitted to establish branches in Vietnam by the end of this year. From 2009, foreign firms will be allowed to form wholly foreign-invested entities, and the existing limit of 49 percent of chartered capital they are permitted to contribute to ventures will be removed. More on Vietnam Advertising.