In its conscious effort to attract investment, both domestic and foreign, into its tourism sector, the capital city has received 20 such projects in the period from 2016 – 2017.
Among these projects are: a hotel (costing VND4.91 trillion or US$216.2 million); a trade centre and apartment complex developed by Tay Ho View Co.; a multi-function complex worth $70 million invested by Post and Telecommunication Equipment Co.; and another hotel, financed by Ho Tay Co and costs $20 million.
From 2017 – 2020, the city has priority projects and four of these come from the tourism industry which has a total investment capital of VND11.56 trillion ($508 million).
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Included in the city’s future plans are: “To continue to study and perfect its investment policies to encourage more foreign and domestic investors to invest in the area.” The development of world class hotels, resorts, high-grade entertainment and trade centres will be in the top list of the capital city; Supervision of the implementation progress of current projects in the area will also be given focus; In the same light, investment licenses of projects that are moving slowly is planned be revoked; Other qualified investors will also be studied and considered.
The capital city hopes to reach an 8% growth rate in 2017 which is equivalent to 4.58 million foreign tourists and 20.91 million domestic visitors.
By the end of 2017, the capital city expects over 23.8 million tourists to visit, including almost five million international visitors from major places like China, South Korea, Japan, France, U.S.A, Germany, Australia, Malaysia, Thailand and Canada. It targets to earn about VND71 trillion ($3.1 billion) or a 15% rise from the same time last year.
In 2018, the capital city aims to attract about 25.5 million tourists and earn around VND72.5 trillion.