MegaStar Cineplex, a newly formed venture to build theaters in Vietnam, announced its first two megaplexes would be in Hanoi and Ho Chi Minh City. MegaStar is a joint venture between Envoy Media Partners and Phoung Nam Corp.
Envoy CEO J. Edward Shugrue said MegaStar is the first company with Western backing to get Vietnamese government permission to build cinemas in the territory.
The Hanoi project is planned for the VinCom City Towers, which has office and retail space, and will contain eight screens and 1,122 seats, as well as restaurants and bars. The Ho Chi Minh City nine-plex at Hung Vuong Plaza will have 1,560 seats.
MegaStar plans to build eight to 10 complexes in its first phase of construction.