CTG is a state-owned enterprise, directly managed by the Chinese Government. After surveying and working with the People's Committees of three cities: Ho Chi Minh City, Nha Trang (Khanh Hoa province), Mong Cai (Quang Ninh province), CDF and Imex Pan Pacific Import-Export Company Limited (IPPG) signed a memorandum of understanding on opening three duty-free stores in the three above-mentioned localities.
Shopping tourism helps realize the goal of 25 million tourists/year
At the event, Mr. Nguyen Trung Khanh, Director of the National Tourism Administration, said that Vietnam's goal in 2024 is for the tourism industry to welcome 17-18 million international visitors, serve 110 million domestic tourists, and achieve total tourism revenue of about 34 billion USD.
To achieve this goal, the tourism industry will prioritize cooperation with domestic and foreign agencies and partners, develop attractive and highly competitive tourism products, including shopping tourism products, improve the efficiency of attracting and exploiting the market of quality visitors with high spending ability; strengthen technical facilities and tourism services, meeting the needs of tourists.
Mr. Eugene Gan, CEO of Changi Airports International and Mr. Johnathan Hanh Nguyen, Chairman of the Board of Directors of Cam Ranh International Terminal Joint Stock Company signed an agreement to manage non-aviation service business activities of Cam Ranh International Terminal in February 2024.
In the future, the tourism industry will prioritize cooperation with domestic and foreign agencies and partners, develop attractive and highly competitive tourism products, including shopping tourism products, improve the efficiency of attracting and exploiting the market of quality visitors with high spending ability; strengthen technical facilities and tourism services, meeting the needs of tourists.
Mr. Khanh affirmed that if invested and operated effectively, duty-free shopping facilities in Vietnam will certainly contribute to promoting the tourism economy , increasing investment, attracting labor and bringing positive impacts to Vietnamese tourism businesses.
Therefore, Mr. Khanh highly appreciated the proactiveness of the Inter-Pacific Group (IPPG) and the China Tourism Group in organizing the signing ceremony of cooperation and exploiting supplementary services for tourists.
In particular, after the two sides signed a memorandum of understanding in 2023 to expand duty-free shopping facilities in Vietnam, many duty-free shopping models have been successfully implemented in many countries around the world such as the UAE, Singapore, South Korea, etc., not only stimulating tourists' spending but also building the destination's shopping brand image.
"I believe that if invested and operated effectively, duty-free shopping facilities in Vietnam will contribute to promoting the tourism economy, increasing investment, attracting labor and bringing positive impacts to Vietnamese tourism businesses," the Director of the National Tourism Administration emphasized.
Shopping tourism helps realize the goal of 25 million tourists/year
Mr. Johnathan Hanh Nguyen, Chairman of IPPG, said that as the pioneer of the duty-free business in Vietnam, IPPG has invested in modern duty-free shop projects at border gates and airports, contributing to attracting tourists and increasing tourism trade. With its reputation, IPPG has been and is forming joint ventures with major duty-free business groups around the world such as DFS, Dufry, Lotte...
Mr. Johnathan Hanh Nguyen expressed that the memorandum of understanding on cooperation agreement just signed with CDF continues to open up many opportunities for cooperation in developing bilateral trade and tourism between China and Vietnam. CDF is the largest duty-free business group in China with many outstanding business results in 2023.
Specifically, the company's revenue increased by 24.1% over the same period, reaching 9.3 billion USD, net profit increased by 24.07%, reaching 939.4 million USD. These are impressive numbers, showing the great potential of the Chinese partner.
"The prestige, experience, worldwide customer network and the market capitalization of hundreds of billions of USD of the leading tourism duty-free business group will bring about a breakthrough in tourism trade growth for our country, meeting the goal of bringing in 25 million tourists/year.
After Long Thanh International Airport is completed in 2026, along with 22 large and small airports nationwide, this is the right time for us to turn our dreams into reality, bringing Vietnam to become a powerful developed country by 2045," Mr. Johnathan Hanh Nguyen emphasized.
"The time is ripe for us to turn our dreams into reality"
Mr. Johnathan Hanh Nguyen is a patriotic businessman. 39 years ago, in 1985, he accepted the mission of the late Prime Minister Pham Van Dong to open Vietnam's air routes to the world, while contributing to the development of the country's economy.
After completing his mission of opening flight routes, he was the one who founded and created the IPPG brand.
Mr. Hanh Nguyen once shared that since the establishment of IPPG, he has always kept in mind the guiding principle of the late Deputy Prime Minister Tran Quynh's advice: "When doing business in Vietnam, you need to remember two things: First, you must be patient and persistent; second, you must comply with the provisions of the law; then the Party, the Government and the People will protect you."
Also from the love of the country, with that ideal, after 39 years of development, IPPG Group has successfully developed its import-export investment business domestically and internationally with the strength of distributing more than 138 international brands, more than 1,200 stores and retail tourism development projects nationwide.
Imex Pan Pacific Group (IPPG) - China Tourism Group (CTG) - China Duty Free Group (CDF) met with Mr. Nguyen Van Dung, Vice Chairman of Ho Chi Minh City People's Committee on March 29.
Recently, in February 2024, IPPG and Changi Airport Group (Singapore) signed a strategic partnership to upgrade non-aviation services and support the development of international routes at Cam Ranh International Airport with the goal of bringing Cam Ranh International Airport to international 5-star standards.
Recently, CDF, China's largest duty-free group, announced its outstanding business results in 2023. Specifically, the company's revenue increased by 24.1% over the same period, reaching 9.3 billion USD, and net profit increased by 24.07%, reaching 939.4 million USD. These are impressive numbers, showing the great potential of the Chinese partner.
In particular, Long Thanh International Airport is also accelerating to reach the finish line in 2026 and 22 large and small airports nationwide... With all of the above factors, Mr. Hanh Nguyen believes that this is the right time for us to turn our dreams into reality, bringing Vietnam to become a powerful developed country by 2045," Mr. Johnathan Hanh Nguyen emphasized.
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