The film, Thien Duong (Paradise), is co-produced by the HCM City-based Ivonk Picture and Cion Pictures, a Korean studio.
Its first scenes will be shot in HCM City and Da Lat early next month.
The producers invited Korean director Park Hee Jun and Vietnamese director Nguyen Hoang Hanh Nhan to join the project.
Director Park has worked in famous films such as Birth of a Man, Mandate, Brothers in Heaven and Dream of a Warrior.
The film stars famous actresses Ly Nha Ky and Kim Tuyen of HCM City and Vietnamese-German fashion model Duc Son Pham.
Thien Duong will be in cinemas in Vietnam and the Republic of Korea early next year.