According to Mr. Hoang Anh Minh, Vice President of the Vietnam Financial Consulting Association and Editor-in-Chief of VietnamFinance Investment Magazine, the golf industry in Vietnam has been developing strongly in recent times.
From an investment perspective, there is a race to invest in golf courses nationwide, especially after the Government issued Decree No. 52/ND-CP on investment in construction and business of golf courses in 2020, thereby removing many previous legal barriers to this field. The investment race is heating up among investors as well as between localities; and the race to invest in golf courses is echoed by other investment stories related to real estate, tourism , aviation, etc.
It is predicted that by 2025, Vietnam may have up to 200 golf courses. Many provinces and cities will also have more than 10 golf courses, and many provinces and cities have been and are making efforts to become the “golf capital” in the near future.
However, the current development of the golf course system in Vietnam is also posing new problems for state management, requiring further improvement of policies and legal regulations... On the player side, in addition to the increase in quantity, issues related to golf culture are also being raised, requiring a learning and absorbing process so that the Vietnamese golf industry can truly integrate into the global golf industry.
“The publication 'Vietnam Golf Investment Overview' is designed to provide readers with a comprehensive view of the current golf industry in Vietnam. From the perspective of managers, experts, businessmen and golfers, the articles in this publication will contribute to providing information to a wide range of readers, both near and far, and at the same time raise issues of the Vietnam golf industry. By publishing this publication, we want to contribute a responsible voice to promote that development, for the long-term benefits of the Vietnamese economy and people,” said Mr. Hoang Anh Minh.
According to Dr. Phan Huu Thang, former Director of the Foreign Investment Agency, golf is now an economic sector that has been and is having positive social effects, contributing to the socio-economic development of localities and helping Vietnam integrate more deeply into the world. In the coming time, to develop golf into an economic sector, there needs to be a new awareness, a new action in investing as well as developing golf courses.
"The government needs to have a larger vision for planning to create a golf map so that every locality has a golf course, so that everyone wants and can play golf. For underdeveloped areas, the government needs to have more suitable policies; and for remote areas that have visitors but do not have a golf course policy, there also need to be procedures to create the most favorable conditions," said Mr. Thang.
According to Dr. Ngo Cong Thanh, former Deputy Director of the Planning Management Department, Ministry of Planning and Investment , golf course investment in Vietnam will explode in the near future, for three main reasons. One is that investors are currently very interested in investing in the golf industry, because after a 50-year land lease, investors will be given priority to continue leasing land and at an appropriate time, they can convert it into urban areas or industrial zones. Two is that golf course investment procedures have become simpler, no longer having to go through the Prime Minister or ministries. Three is that the demand for golf is currently increasing.
"I think that by 2030, the whole country can reach 400-500 golf courses. The basis for this possibility is that many provinces and cities across the country currently have golf course planning and a very clear roadmap," said Mr. Thanh.
According to Mr. Pham Thanh Tri, Vice President of the Vietnam Golf Tourism Association, Vietnam's golf tourism industry is currently developing impressively. In 2023, it is expected that Vietnam can welcome 3 million golf tourists and this stream of tourists can generate revenue of about 5 billion USD. However, golf is still a service subject to special consumption tax and this is a policy shortcoming. "We hope that policies for the golf industry and golf tourism will be improved in the coming time so that the golf tourism industry can truly develop, bringing more benefits to the economy," said Mr. Tri.
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