Decision No. 509/QD-TTg of the Prime Minister dated June 13, 2024, approving the Tourism System Planning for the period 2021-2030, 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 key economic sector, developing in the direction of green growth, becoming a leading destination in the world. To realize this, mechanisms and policies that create incentives to attract investment in Vietnam's tourism sector are indispensable.
In recent years, Vietnam's tourism industry has mobilized diverse sources of investment for tourism development. According to the Institute for Development Strategy ( Ministry of Planning and Investment ), the period from 2011 to 2020 marked an increase in both the quantity and quality of investment in tourism development. More than 1,000 tourism projects with tens of trillions of VND in investment capital have been implemented by domestic and foreign investors, mainly focusing on infrastructure development, accommodation, and entertainment in potential tourist areas. Notable examples include projects with large capital injections such as Vinpearl Phu Quoc (17,000 billion VND) and the Phu Quoc cable car (10,000 billion VND). Vinpearl Quy Nhon (4.5 trillion VND), Vinpearl Ha Long (1.2 trillion VND), Ba Na cable car (over 6 trillion VND), Muong Hoa Phan Xi Pang cable car (4.5 trillion VND), Bai Chay cable car (over 5 trillion VND)... Currently, Vietnamese tourism continues to demonstrate its attractiveness to strategic investors, especially in the high-end service segment. Many large corporations are continuing to invest and develop a series of international-class resort and entertainment products and services in many localities.
However, the stimulus for attracting tourism investment in Vietnam still faces many "bottlenecks". According to Pham Van Thuy, Deputy Director of the Vietnam National Tourism Administration, although there is still much room for tourism investment, we lack a strategy to attract, facilitate, and support investors. For example, there are no specific preferential policies or incentives for investment in disadvantaged areas with rich tourism potential; transportation infrastructure to destinations is still limited, discouraging investors... Not to mention, legal regulations in tourism investment and business are still overlapping, causing many difficulties in implementing projects.
According to Ms. Dinh Thi Tra Nhi, M.A., from the Faculty of Tourism and Hospitality (Ho Chi Minh City University of Foreign Languages and Information Technology), from the initial stages to the actual implementation of investment and business activities, investors must go through many stages with conditions and administrative procedures stipulated in various 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...). These regulations and conditions are sometimes inconsistent, even contradictory, causing confusion for investors and prolonging or even halting project implementation, increasing costs in terms of time, money, and risk for businesses. These are "barriers" that need to be overcome if we want to boost tourism investment attraction.
According to many experts, to attract investors to Vietnam's tourism sector, in addition to the potential and infrastructure of the destination, investment attraction policies play a crucial role. At the scientific conference "New Trends in Tourism Development Investment in Vietnam" organized by the Institute for Tourism Development Research, Ms. Dang Thi Giang, M.A., from the Institute for Sustainable Regional Development Research, proposed that the government should issue policies to encourage and incentivize investment in tourism, especially in key areas; and strengthen public-private partnerships to mobilize social resources for tourism development. Regarding proposed solutions related to the legal framework to stimulate tourism investment, Ms. Dinh Thi Tra Nhi, M.A., stated that the Investment Law should be amended and supplemented to make tourism a prioritized industry, encouraged for investment, and a sector where public-private partnership investment methods can be implemented. Simultaneously, amend and supplement relevant legal regulations to create attractive and competitive policies regarding land, finance, electricity, and water for tourism development investment projects...
Ms. Nguyen Thi Huyen Trang, M.A., from the Center for Economic Information, Analysis and Forecasting (Central Economic Committee), suggested 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 the country's tourism industry...
Source: https://nhandan.vn/tao-dong-luc-thu-hut-dau-tu-du-lich-post852393.html
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