Deals worth $2 billion on the cards at Vietnam Travel Summit

By Bao Ngoc   November 26, 2018 | 08:56 pm PT
Vietnamese and global companies are expected to sign agreements worth $2 billion at the Vietnam Tourism Summit in Hanoi on December 5-6.

Thien Minh Group is expected to tie up with Malaysia’s Air Asia Group to develop low-cost airline services in Vietnam.

Thien Minh is a travel company which offers travel services such as hotels and flights. Budget carrier AirAsia operates 11 direct flights daily from Vietnam to other countries.

The Vietnamese private firm will also sign a deal with Germany’s TUI Hotels and Resorts Group to build world-class resort and hotel complexes in the central province of Quang Nam.

A street in Hoi An at night. Photo by Shutterstock/1tomm

A street in Hoi An at night. Photo by Shutterstock/1tomm

Hoi An South Development Ltd. (Hoiana) will sign up Rosewood Hotel Group to manage the Hoi An South complex also in Quang Nam.

Construction of the $4-billion complex began in 2016. When completed, it will comprise hotels, a residential township, amusement areas, and commercial facilities.

It a joint development by VinaCapital, a leading investment management and real estate development firm in Vietnam, and Gold Yield Enterprises Ltd., a joint venture between the Suncity Group of Macau and a private investor from Hong Kong.

The Hanoi administration and CNN are expected to sign an agreement to promote the image of the capital city and Vietnam on the channel.

A view of Tran Quoc pagoda in Hanoi. Photo by Shutterstock

A view of Tran Quoc Pagoda in Hanoi. Photo by Shutterstock

In 2016 Hanoi authorities had signed a $2 million contract with the U.S. cable channel to promote the city in 2017 and 2018.

The Vietnam Tourism Summit is a national meeting held to identify solutions and strategies to restructure the tourism industry and enhance its quality and sustainability. 

The event, a part of the Vietnam Economic Forum, is organized by the Department for Private Sector Development Studies under the Prime Minister’s Office, the Ministry of Culture, Sports and Tourism, the Tourism Advisory Board (TAB), and VnExpress.

Its goals are to increase the contribution of tourism to the country’s GDP from 7.5 percent last year to 12 percent by 2022, create three million direct jobs and 2.5 million indirect ones, attract global and domestic capital, and improve the competitiveness of Vietnam’s tourism.

The event is co-sponsored by, Muong Thanh Group, Novaland Real Estate Investment Corporation, Hoi An South Development Limited Company, BIM Land of BIM Group, and Vietravel Travel and Marketing Transport JSC.

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