On the 12th of July, Mr Ha Van Sieu,Deputy Director General Vietnam National Administration of Tourism gave a speech at Hospitality Investment Conference Vietnam at The Reverie Saigon.

‘First of all, on behalf of Vietnam National Administration of Tourism, I would like to send all of you the warmest greeting. I appreciate the initiative taken by the Management of Sphere and Grant Thornton Viet Nam to organize “Hospitality Investment Conference Viet Nam 2016” today.

Vietnam tourism has grown exponentially over the years. International tourist growth reached an average of 9.15% in the period of 2001 to 2015, with the absolute number increasing by more than 3 to 4 times.

In 2015, Viet Nam welcomed nearly 8 million international tourist arrivals and served 57 million domestic tourists. Total revenues reached 15.4 billion USD, contributing 6.6% to the GDP. According to the “Economic impact of tourism” report from World Travel and Tourism Council (WTTC), the total contribution of Viet Nam Tourism to GDP, including direct and indirect contributions achieved 13.9% in 2015.

In particular, the development of the hotel sector achieved some important results. Total number of accommodation is over 19,400 establishments with 390,000 rooms. In the period 2010-2015, it increased by 1.5 times, with the overall average growth rate of 9%/year in terms of number of establishments and rooms. Notably, in the period 2010-2015, the number of 3 -to 5- star hotels rose faster than the overall average (+ 16% for 5-star hotels, 14% for 4-star hotel and 13 % for 3 star hotel).

By May 2016, the country had 101 5-star hotels, 229 4-star hotels and 463 3- star hotels. The development of the hotel sector has contributed to improving Vietnam’s tourism image, towards one of modernity and high quality.

Although achieving encouraging results, Vietnam’s tourism industry is still inadequate in comparison with other developed markets in the region such as Thailand, Singapore and Malaysia. With the aim of enhancing competitiveness in the tourism and hotel sectors, vis-à-vis the other regional countries, there is still much to be done for Viet Nam’s tourism, and there is certainly an important role for investors in these sectors.

In that sense, this conference is an important opportunity for investors, management agencies, local authorities, businesses and tourism industry professionals to share experiences and discuss how to increase investment and promote development in Viet Nam’s hospitality industry, as well as the tourism sector in general.

I call on all participants, especially representatives of tourism businesses, to discuss and actively comment on the topics of the meeting in order to contribute to the success of the conference’