Promoting investment in tourism development in Vietnam

NDO - On October 29, in Hanoi, the Institute for Tourism Development Research (Vietnam National Administration of Tourism) organized a scientific workshop on "New trends in tourism development investment in Vietnam", attracting the participation of representatives of state management agencies on tourism along with many experts, researchers, and tourism businesses.

Speaking at the opening of the workshop, Deputy Director of the Vietnam National Administration of Tourism Pham Van Thuy said: Tourism has been identified as a key economic sector of Vietnam and has achieved impressive results in the recent period. In 2023, the added value of the service sector increased by 6.82% and attracted 12.6 million international visitors, 3.4 times higher than in 2022. Notably, in the first 9 months of 2024, the total number of international visitors to Vietnam reached more than 12.7 million, an increase of 43% over the same period in 2023, higher than the total number of visitors in 2023; domestic visitors reached about 95.5 million.

According to the Deputy Director of the Vietnam National Administration of Tourism, in recent years, the Government has paid much attention to the tourism industry. Investment in tourism is prioritized with the mobilization of many capital sources, including investment capital from the state budget, domestic private investment, foreign direct investment (FDI), investment capital from foreign governmental and non-governmental organizations, and other socialized capital sources. The form of public-private partnership (PPP) in tourism development investment has also been implemented, bringing positive effects to promote the development of the tourism industry.

“It can be said that tourism is an attractive field for domestic and foreign investors, with capital up to tens of thousands of billions of VND and projects of different scales, mainly investing in the fields of developing tourism infrastructure, accommodation facilities, golf courses, entertainment, tourism products and services...” - Mr. Pham Van Thuy emphasized.

The fact that large corporations and strategic investors focus on investing in creating outstanding, world-class tourism products not only creates momentum to promote tourism development but also has a spillover effect, stimulating the development of other socio-economic sectors.

Deputy Director of Vietnam National Administration of Tourism Pham Van Thuy spoke.

However, in addition to the encouraging results, the Deputy Director of the Vietnam National Administration of Tourism said that investment attraction activities in the tourism industry still have some shortcomings and limitations such as: lack of attraction strategy, not really creating favorable conditions to support units investing in the tourism sector, no specific preferential policies and incentives for investors in disadvantaged areas but rich in tourism potential; many localities have tourism potential but have not attracted investment, technical infrastructure for traffic to access many potential tourist destinations is still limited, discouraging investors; many investment projects are slow to progress or are unfinished, not attracting large-scale, professional investment projects...

That is the reason why the Scientific Conference “New trends in tourism development investment in Vietnam” was organized, aiming to create a forum for scientists, managers, businesses, investors in the tourism sector and related fields... to share their views, experiences and contributions to promote tourism development investment, meeting the current and future needs and new tourism trends.

Sharing at the Workshop, giving an overview of tourism investment in Vietnam, Dr. Nguyen Anh Tuan, Director of the Institute of Tourism Research, affirmed: The development of the domestic tourist market and the increasing interest of many international tourist markets in Vietnam show strategic opportunities in investing in the synchronous development of tourism infrastructure and new tourism products to meet and anticipate market demand. By promptly grasping and clearly identifying new market needs and trends, investors can take advantage of opportunities to invest and effectively exploit emerging destinations of Vietnam tourism.

Director of the Institute of Tourism Research Nguyen Anh Tuan spoke.

According to the Director of the Institute of Tourism Research, in order to motivate investors to choose to invest in the tourism sector in Vietnam, in addition to grasping the main trends and new needs of the market, especially key tourist markets with high spending capacity and long-term stays, it is necessary to rely on many internal factors such as tourism potential and local destination brands to promote investment attraction in tourism, especially investment from abroad.

In addition, there needs to be an open policy to attract foreign investment, an attractive investment environment, especially the readiness and initiative of localities in promoting tourism investment attraction, facilitating administrative procedures in granting tourism investment certificates, etc.

At the workshop, delegates also listened to many presentations and comments from experts related to the current situation and solutions for infrastructure investment to meet the needs of Vietnam's tourism development; investment in the tourism sector from a business perspective; promoting the effectiveness of investment sources in product development and tourism development; referring to Korea's investment attraction policy in tourism development and recommendations for Vietnam...

Thereby, the Workshop provided a comprehensive view of the current situation, opportunities, challenges and issues that need to be resolved to promote investment attraction for tourism development in Vietnam today; along with trends and prospects in investment in the tourism sector and solutions and policies to promote investment attraction in tourism, meeting the requirements of developing tourism into a spearhead economic sector in the new context.

Source: https://nhandan.vn/thuc-day-dau-tu-phat-trien-du-lich-o-viet-nam-post839244.html