Vietnam is an attractive destination for investors involved in theentertainment business, said the Executive Producer of KB CreativeAdvisors, Steven Ryan.
The growth in therecreation business is attributable to the stable economy, anoverwhelmingly young population and an increase in people’s purchasingpower, he added.
The Deputy Head of the VietnamTourism Development Research Institute, Pham Trung Luong, said thatthere are good prospects for the development of recreational parks,which account for a large proportion of the tourism sector.
The Ministry of Planning and Investment reported that the amount ofinvestment in entertainment has increased sharply, particularly in thesouth. A total of 121 entertainment FDI projects with a combinedregistered capital of 3.5 billion USD, were started in the first fivemonths of this year, representing almost half of the country’s FDI, saidthe ministry.
Most of the projects are in thesouth of the country with 67 projects, the north has 30 and theremainder are in the central region. HCM City , Hanoi , the southerncoastal province of Ba Ria-Vung Tau and the central province ofKhanh Hoa are the leaders with the highest number of FDI projects inthis field.
Domestic businesses have gained someinitial successes after investing in entertainment parks, namely theDam Sen and Suoi Tien Parks in HCM City , the water park in thecentral coastal city of Nha Trang and Bao Son paradise park inHanoi .
Noteworthy amongst the manyentertainment projects underway in the country is the 1 billion USD VinhLoc township and theme park invested in by the C.T Group.
The Vice President of the Vietnam Real Estate Association, Tong VanNga, predicts that the country’s entertainment sector will blossom inthe next decade when recreational parks have a cultural and educationaltheme.
Despite the potential, Ryan pointed outthe weaknesses and shortages that have made the country’s entertainmentsector fail to meet customers’ demands, especially foreigners who wantto enjoy deluxe entertainment and relaxation services.
However, he suggested that investors should expand their investmentto include the development of adventure sports parks to add somethingdifferent. Investors should also pay more attention to the consumers’demands and incomes so their investments target the right market, hesaid./.
The growth in therecreation business is attributable to the stable economy, anoverwhelmingly young population and an increase in people’s purchasingpower, he added.
The Deputy Head of the VietnamTourism Development Research Institute, Pham Trung Luong, said thatthere are good prospects for the development of recreational parks,which account for a large proportion of the tourism sector.
The Ministry of Planning and Investment reported that the amount ofinvestment in entertainment has increased sharply, particularly in thesouth. A total of 121 entertainment FDI projects with a combinedregistered capital of 3.5 billion USD, were started in the first fivemonths of this year, representing almost half of the country’s FDI, saidthe ministry.
Most of the projects are in thesouth of the country with 67 projects, the north has 30 and theremainder are in the central region. HCM City , Hanoi , the southerncoastal province of Ba Ria-Vung Tau and the central province ofKhanh Hoa are the leaders with the highest number of FDI projects inthis field.
Domestic businesses have gained someinitial successes after investing in entertainment parks, namely theDam Sen and Suoi Tien Parks in HCM City , the water park in thecentral coastal city of Nha Trang and Bao Son paradise park inHanoi .
Noteworthy amongst the manyentertainment projects underway in the country is the 1 billion USD VinhLoc township and theme park invested in by the C.T Group.
The Vice President of the Vietnam Real Estate Association, Tong VanNga, predicts that the country’s entertainment sector will blossom inthe next decade when recreational parks have a cultural and educationaltheme.
Despite the potential, Ryan pointed outthe weaknesses and shortages that have made the country’s entertainmentsector fail to meet customers’ demands, especially foreigners who wantto enjoy deluxe entertainment and relaxation services.
However, he suggested that investors should expand their investmentto include the development of adventure sports parks to add somethingdifferent. Investors should also pay more attention to the consumers’demands and incomes so their investments target the right market, hesaid./.
