Ha Long Bay in northern Quang Ninh province (Photo: VNA)
Hanoi (VNA) – Tourism is a remarkable cont⭕ributor to Vietnam’s economic growth.
The sector has drawn about 10 billion USD in foreign direct investment (FDI) and nearly 300 trillion VND (13.5 billion USD) in domestic investment.
More than 6.1 trillion VND (274.5 million USD) has been sourced from the State budget since 2006 to develop tourism infrastructure.
Popular destinations in Vietnam include Ha Long Bay in northern Quang Ninh province, Phu Quoc island in southern Kien Giang province, and Nha Trang in the central coastal province of Khanh Hoa .
The country is home to more than 1,500 international travel companies. As of May this year, Vietnam had 101 five-star hotels, 299 four-star and 463 three-star hotels.
Vietnam has provided visa exemptions for tourists from 22 countries and territories.
Between 2010 and 2015, the tourism sector recorded average growth of 9.5 percent. The industry grossed 15.4 billion USD in revenue, contributing 6.6 percent to the country’s gross domestic product (GDP) while generating 2.25 million jobs.
In 2015 alone, Vietnam welcomed 7.94 million foreign visitors and 57 million domestic ones, raking in 10-11 billion USD in revenue.
In the first seven months of 2016, the sector served 5.55 million overseas holidaymakers, a year-on-year rise of 24 percent. Tourism revenue reached 235 trillion VND (10.57 billion USD), a yearly increase of 22.9 percent.
According to the World Economic Forum (WEF) 2015’s report, Vietnam ranked 75th out of 141 countries in the WEF’s Travel and Tourism Competitiveness Index.
At a national conference on tourism development in Hoi An ancient town on August 9, Prime Minister Nguyen Xuan Phuc requested reinforcing the management of the tourism environment, especially streamlining entry-exit procedures, speeding up aviation links, improving promotion programmes and supporting the development of big tourism names, to turn tourism into a spearhead economic sector.-VNA
General Director of the Vietnam National Tourism Administration Nguyen Van Tuan spotlighted both the good performances and limitations of the tourism industry in the first two quarters of this year.
The Vietnam National Administration of Tourism (VNAT) said on August 3 that it had sent a document requiring more measures to attract more visitors from the main tourist markets of the nation.
PM Nguyen Xuan Phuc has affirmed the Government’s determination to turn tourism into the country’s spearhead economic sector during a national conference on tourism development in Hoi An city.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Ha Long Bay in northern Quang Ninh province (Photo: VNA)
