Decision No. 509/QD-TTg of the Prime Minister dated June 13, 2024 approving the Tourism System Planning for the 2021-2030 period, with a vision to 2045, has set the following goals: By 2025, Vietnam will become an attractive destination with high tourism development capacity in the world; by 2030, tourism will truly become a spearhead economic sector, developing towards green growth, becoming a destination with leading development capacity in the world. To realize this, mechanisms and policies to create incentives to attract investment in Vietnam tourism are indispensable.
In recent times, our country's tourism industry has mobilized a variety of investment capital sources for tourism development. According to the Institute of Development Strategy (Ministry of Planning and Investment), the period 2011-2020 marked an increase in both quantity and quality of tourism development investment. More than 1,000 tourism projects with investment capital of tens of thousands of billions of VND have been implemented by domestic and foreign investors, mainly investing in the development of infrastructure, accommodation facilities, entertainment... in potential tourist areas. Some typical projects that have received large capital injections include: Vinpearl Phu Quoc (17,000 billion VND), Phu Quoc cable car (10,000 billion VND); Vinpearl Quy Nhon (4,500 billion VND), Vinpearl Ha Long (1,200 billion VND), Ba Na cable car (over 6,000 billion VND), Muong Hoa Phan Xi Pang cable car (4,500 billion VND), Bai Chay cable car (over 5,000 billion VND)... Currently, Vietnam tourism is still proving its attractiveness to strategic investors, especially in the high-end service segment. Many large corporations are continuing to invest and put into operation a series of international-class resort and entertainment products and services in many localities.
However, the incentive to attract tourism investment in Vietnam still has many "bottlenecks". According to Deputy Director of the Vietnam National Administration of Tourism Pham Van Thuy, although there is still a lot of room for tourism investment, we still lack a strategy to attract, facilitate and support investors, such as not having specific priority and incentive policies for investment in disadvantaged areas but rich in tourism potential; limited transport infrastructure to access destinations, discouraging investors... Not to mention, legal regulations on tourism investment and business are still overlapping, causing confusion in project implementation.
Ms. Dinh Thi Tra Nhi, Faculty of Tourism and Hospitality (Ho Chi Minh City University of Foreign Languages and Information Technology) said that from the beginning to the actual implementation of investment and business activities, investors have to go through many stages with conditions and administrative procedures stipulated in many different legal documents (such as: Investment Law, Environmental Protection Law, Construction Law, Land Law, Housing Law, Real Estate Business Law, Urban Planning Law, Bidding Law, Fire Prevention and Fighting Law, etc.). The procedural regulations and conditions are sometimes inconsistent, even "uneven", causing confusion for investors and prolonging the project implementation process, even stalling, increasing costs in terms of time, money and risks for businesses. These are "barriers" that need to be overcome if we want to promote tourism investment attraction.
According to many experts, in order to create motivation to attract investors to the tourism sector in Vietnam, in addition to the potential and infrastructure of the destination, investment attraction policies play an extremely important role. Discussing at the scientific workshop "New trends in tourism development investment in Vietnam" recently organized by the Institute for Tourism Development Research, Master Dang Thi Giang, Institute for Regional Sustainable Development Research proposed: The Government needs to issue policies to encourage and give incentives to investment in tourism, especially in key areas; strengthen public-private partnership to mobilize social resources for tourism development... Recommending some solutions related to the legal framework to stimulate tourism investment, Master Dinh Thi Tra Nhi expressed her opinion: It is necessary to amend and supplement the Investment Law in the direction of making tourism a preferential industry, encouraged for investment and a field where the public-private partnership investment method is implemented; At the same time, amend and supplement relevant legal regulations in the direction of having attractive and competitive policies on land, finance, electricity, and water for tourism development investment projects...
Ms. Nguyen Thi Huyen Trang, Center for Economic Information, Analysis and Forecast (Central Economic Committee) recommended that the State should create a favorable investment environment for foreign investors, including improving administrative procedures, reducing taxes and related risks; strengthening investment promotion activities to promote Vietnam's tourism potential to foreign investors, attracting them to invest in our country's tourism industry...
Source: https://nhandan.vn/tao-dong-luc-thu-hut-dau-tu-du-lich-post852393.html
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