Intl Investment Funds Eye US$20 Bln in Vietnam Tourism

Twenty foreign investment funds are ready to invest US$20 billion in Vietnam tourism to tap the local potentials.

 

“The funds are mostly interested in constructions of trade centers, hotels, and high-end entertainment complexes,” Kenneth Atkinson, manager of Grant Thornton Vietnam said, adding that Vietnam boats rich potentials for tourism development.

 

“Vietnam will be among the top-ten global tourist destinations in the next century. The country will host six million international tourist arrivals in 2010. Therefore, the demand of hotel rooms will be increasing,” he added

 

Notably, tourism is listed among the five strongest hard currency earners in the country after crude oil, garments and textiles, footwear and seafood and has a total export turnover of more than US$3 billion/year.

 

Vietnam, which is home to many natural and cultural world heritage sites recognized by UNESCO beside beautiful landscapes and resorts, is emerging as a safe and friendly destination for holidaymakers.

 

The Vietnam Government is paying more attention to the hospitality development when it poured more than VND2 trillion (US$125 million) into infrastructure upgrades for tourism sector in the last five years.

 

Vietnam welcomed more than 2.7 million international tourist arrivals in the first seven months of 2008, up 8.6 per cent on year. The sun warm Southeastern Asian nation hopes to attract five million foreign tourists and serve 21 million domestic holiday makers to yield VND64 trillion (US$4 billion) in 2008.

The tourism sector now contributes 8 per cent to Vietnam’s national GDP. (Vietnam Law)