Tourists in Hoi An city's ancient quarters(Photo: VNA) Hanoi (VNA) – The Prime Minister has approved a decision to establish a state-ownedtourism development fund.
Accordingly,the fund – under the Ministry of Culture, Sports, and Tourism – will operate asa single-member limited liability company.
It will beused for building plans, allocating funding for tourism promotion activities,and supporting tourism growth in line with the law as well as national strategyand development planning.
The fund’s 300-billion-VND(12.9 million USD) charter capital is set to be financed by the State budget inthe first three years following its establishment.
The State budget will also grant itan annual sum to cover operational costs. The sum will be sourced from thetotal annual budget collection from tourism entrance fees (5 percent) as wellas visa and entry-exit services for foreigners (10 percent).
Early this month, Prime Minister Nguyen Xuan Phuc has approved a project torestructure the tourism sector to turn it into a spearhead economic sector forthe country and make Vietnam one of the nations with the most developed tourismsector in Southeast Asia.
The project sets a target of 45billion USD in tourism revenue by 2025, with exports through tourism reaching27 billion USD.
The sector is hoped to contribute more than 10 percent to GDP and create 6million jobs, including 2 million direct jobs. At the same time, the sectorhopes to serve 32 million foreign tourists and more than 130 million domesticvisitors.
The tourism product system isexpected to be shaped with unique and diverse products with strong Vietnamesecultural identity and a prestigious brand name.
Smart tourism will be applied widely,while Vietnamese tourism’s competitiveness is expected to be enhanced.-VNA
VNA
