Foreign tourists walks in a street in Sapa resort town, northern Lao Cai province. (Photo: VNA)

Hanoi (VNA) – Many new opportunities will be opened up for the tourism sector by Vietnam’s participation in the Trans-Pacific Partnership (TPP) and the ASEAN Economic Community (AEC), according to an industry expert.

Director of Vietnam National Tourism Administration’s Market Department Dinh Ngoc Duc said loosened regulations on investment and labour for TPP and AEC member countries will stimulate demand for travelling to seek investment, business and employment opportunities. This will give a boost to the flow of international travellers within the TPP and AEC.

Duc added that most TPP members have also committed to opening the market of business travel among them. With the TPP, international travellers will enjoy more simple procedures and cheaper and faster movement thanks to commitments regarding temporary entry for business persons.

At the same time, the sector has to brace for fierce competition from foreign businesses, which will be allowed to join the domestic tourism market, he said, noting that without a good competition strategy and preparations, domestic companies can lose the battle right on the home ground.

The official suggested local companies to work on improving their capacity and strengthening connectivity to secure their market share.

Quality must come first in developing tours, with due attention given to the business and MICE tourism segment, he said.

Duc also urged coordination among all sectors such as transport, trade and diplomacy to improve tourism’s competitive edges.-VNA