Accordingly, the fund – under the Ministry of Culture, Sports, and Tourism – will operate as a single-member limited liability company.

Tourists in Hoi An city's ancient quarters.

It will be used for building plans, allocating funding for tourism promotion activities, and supporting tourism growth in line with the law as well as national strategy and development planning.

The fund’s 300-billion-VND (12.9 million USD) charter capital is set to be financed by the State budget in the first three years following its establishment.

The State budget will also grant it an annual sum to cover operational costs. The sum will be sourced from the total annual budget collection from tourism entrance fees (5 percent) as well as visa and entry-exit services for foreigners (10 percent).

Early this month, Prime Minister Nguyen Xuan Phuc has approved a project to restructure the tourism sector to turn it into a spearhead economic sector for the country and make Vietnam one of the nations with the most developed tourism sector in Southeast Asia.

The project sets a target of 45 billion USD in tourism revenue by 2025, with exports through tourism reaching 27 billion USD.

The sector is hoped to contribute more than 10 percent to GDP and create 6 million jobs, including 2 million direct jobs. At the same time, the sector hopes to serve 32 million foreign tourists and more than 130 million domestic visitors.

The tourism product system is expected to be shaped with unique and diverse products with strong Vietnamese cultural identity and a prestigious brand name.

Smart tourism will be applied widely, while Vietnamese tourism’s competitiveness is expected to be enhanced.

New TV channel on culture and tourism launched

The country’s first multi-platform interactive TV channel on culture and tourism has just been launched by Radio The Voice of Vietnam (VOV) and the Ministry of Culture, Sports and Tourism.

 

Prime Minister welcomes international tourism investors

Prime Minister Nguyen Xuan Phuc on December 6 received international investors in the field of tourism who are in Hanoi to attend the Vietnam Tourism Forum 2018.

 

Vietnamese tourism, cuisine introduced in South Africa

The Vietnamese Embassy in South Africa held a Vietnamese Culture and Cuisine Day in Johannesburg on December 5 to introduce Vietnamese tourism, landscapes and cuisine.

 

Vietnam attends medical tourism expo in India

The advantage healthcare fair and an international conference on the value of medical tourism opened in India’s Uttar Pradesh state on December 4.

 

Deals worth 2 billion USD to be signed at tourism summit

Contracts worth 2 billion USD are expected to be signed between Vietnamese and international partners during the first Vietnam Travel & Tourism Summit.

 

Source: VNA