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Apr 06, 2018 / 10:07

Setting up US$22 million Tourism Development Fund

Ha Phuong

The Ministry of Culture, Sports and Tourism proposes to set up a Tourism Development Fund with a capital of about VND400 - 500 billion (US$17 – 22 million).

International tourist arrivals to Hanoi.
International tourist arrivals to Hanoi.
It is expected that this fund will be partially funded by the State in the first three years, with about 100 billion per year. In addition, further sources of funds will include: 10% of the visa fees and 5% of the tourist fees (all of which will be given to the local relevant government agencies) and finally, contributions from businesses and other legitimate collections/receipts.
“This fund shall be born, at the latest, in the second quarter of 2018, then Vietnam tourism shall have about VND400 - 500 billion (US$17 – 22 million) for promotion and advertising activities, 10 times more than today,” Nguyen Van Tuan, General Director of Vietnam National Administration of Tourism was quoted as saying.
Tuan also shared that tourism in Vietnam in general, in Ho Chi Minh City in particular, has encountered bottleneck issues such as those related to products, destination security, local and inter-regional links. The renovation process of the Tan Son Nhat Airport will greatly affect travel.
This is the fatal blockage of city’s tourism in the coming time hence many agencies should give a helping hand, Tuan added.
Affirming that Ho Chi Minh City tourism was an important driving force of the tourism industry in Vietnam, Tuan said the problems of the city’s tourism should be resolved soon.
In June 2017, a portion of visa fees, tourist site entrance fees, and other costs incurred by foreign tourists will go towards a tourism development fund from the beginning of 2018, according to the amended Law on Tourism.
The law was passed on June 19, 2017 with 89.21% of votes in favor. The fund had attracted many opinions, to ensure it would not place any burden on enterprises or tourists.

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