Vietnam is an attractive destination for investors involved in the entertainment business, said the Executive Producer of KB Creative Advisors, Steven Ryan.
The growth in the recreation business is attributable to the stable economy, an overwhelmingly young population and an increase in people’s purchasing power, he added.
The Deputy Head of the Vietnam Tourism Development Research Institute, Pham Trung Luong, said that there 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 of investment in entertainment has increased sharply, particularly in the south. A total of 121 entertainment FDI projects with a combined registered capital of 3.5 billion USD, were started in the first five months of this year, representing almost half of the country’s FDI, said the ministry.
Most of the projects are in the south of the country with 67 projects, the north has 30 and the remainder are in the central region. HCM City , Hanoi , the southern coastal province of Ba Ria-Vung Tau and the central province of Khanh Hoa are the leaders with the highest number of FDI projects in this field.
Domestic businesses have gained some initial successes after investing in entertainment parks, namely the Dam Sen and Suoi Tien Parks in HCM City , the water park in the central coastal city of Nha Trang and Bao Son paradise park in Hanoi .
Noteworthy amongst the many entertainment projects underway in the country is the 1 billion USD Vinh Loc township and theme park invested in by the C.T Group.
The Vice President of the Vietnam Real Estate Association, Tong Van Nga, predicts that the country’s entertainment sector will blossom in the next decade when recreational parks have a cultural and educational theme.
Despite the potential, Ryan pointed out the weaknesses and shortages that have made the country’s entertainment sector fail to meet customers’ demands, especially foreigners who want to enjoy deluxe entertainment and relaxation services.
However, he suggested that investors should expand their investment to include the development of adventure sports parks to add something different. Investors should also pay more attention to the consumers’ demands and incomes so their investments target the right market, he said./.
The growth in the recreation business is attributable to the stable economy, an overwhelmingly young population and an increase in people’s purchasing power, he added.
The Deputy Head of the Vietnam Tourism Development Research Institute, Pham Trung Luong, said that there 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 of investment in entertainment has increased sharply, particularly in the south. A total of 121 entertainment FDI projects with a combined registered capital of 3.5 billion USD, were started in the first five months of this year, representing almost half of the country’s FDI, said the ministry.
Most of the projects are in the south of the country with 67 projects, the north has 30 and the remainder are in the central region. HCM City , Hanoi , the southern coastal province of Ba Ria-Vung Tau and the central province of Khanh Hoa are the leaders with the highest number of FDI projects in this field.
Domestic businesses have gained some initial successes after investing in entertainment parks, namely the Dam Sen and Suoi Tien Parks in HCM City , the water park in the central coastal city of Nha Trang and Bao Son paradise park in Hanoi .
Noteworthy amongst the many entertainment projects underway in the country is the 1 billion USD Vinh Loc township and theme park invested in by the C.T Group.
The Vice President of the Vietnam Real Estate Association, Tong Van Nga, predicts that the country’s entertainment sector will blossom in the next decade when recreational parks have a cultural and educational theme.
Despite the potential, Ryan pointed out the weaknesses and shortages that have made the country’s entertainment sector fail to meet customers’ demands, especially foreigners who want to enjoy deluxe entertainment and relaxation services.
However, he suggested that investors should expand their investment to include the development of adventure sports parks to add something different. Investors should also pay more attention to the consumers’ demands and incomes so their investments target the right market, he said./.
