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BUSINESS REPORT

Blazing the trail

Stakeholders in Vietnam’s tourism industry join analysts in telling VET how the
reopening of the country’s tourism industry will stoke foreign investment.
Under a decision from the government, all
restrictions on international flights were
removed on February 15, with no limits on the
number of inbound or outbound flights to and
from Vietnam. Regulations on entry and
pandemic prevention and control for
passengers entering Vietnam must still be
implemented in line with guidelines from the
Ministry of Public Security, the Ministry of
Foreign Affairs, and the Ministry of Health.
Except for China, all countries and territories
receiving Vietnam’s proposal have agreed to
restore aviation links. Air routes linking
Vietnam with European countries, Australia,
MR. PHAM HA, MR. VO TRI THANH, and the US have now been resumed.
Chairman of the Lux Group Director of the Institute for Brand However, Japan and the Republic of Korea
and Competitiveness Strategy still apply restrictions on passengers from
Vietnam as part of their efforts to prevent the
he strengths of Vietnam’s tourism espite Covid-19, Vietnam still ranks spread of Covid-19. The government has also
industry lie in landscapes and cul- as an attractive destination for for- decided to reopen international tourism from
T ture, but we are stuck in the posi- D eign investors. March 15, thus bringing new opportunities for
tioning of the national tourism brand. We Opening up aviation and tourism is the country’s tourism sector to return to its
pre-pandemic growth track.
need to have links between localities, opening up its economy and a prerequisite
between localities and businesses, and for investors to make investment decisions.
between businesses and businesses, to In order to attract FDI inflows in the expand business in Vietnam in the context of
together recover the tourism industry. current context, in addition to ensuring an global foreign investment still being in decline.
Vietnam’s tourism industry is currently attractive investment environment, facili- As aviation and tourism reopen, the most
facing four difficulties: policy, human resources, tating travel by foreign experts and workers important matter is ensuring health.
tourism products, and tourism promotion. is important. Skilled workers being blocked It has been forecast that FDI into Vietnam
If we can resolve these, tourism can from coming to Vietnam has slowed invest- in 2022 will be brighter than in 2021. Com-
recover. At the Lux Group, we changed ment flows, because they were unable to mitted capital flows still increased last year,
our business strategy to attract domestic study or carry out projects. while disbursed FDI fell slightly, but both
tourists and maintained our staff so that Opening up the economy at this time will are expected to increase this year. Interna-
we would be ready to welcome foreign increase confidence among foreign investors tional tourism will be a catalyst for attracting
tourists when Vietnam reopens. % about pandemic control as they begin or FDI into Vietnam. %

22 | VIETNAM ECONOMIC TIMES | MARCH 2022 www.en.vneconomy.vn