» » Tourism property association set for this week

After two years of preparation, the Vietnam Tourism Property Association (VnTPA) will be launched by August 14 to be a platform and a bridge to further development in the burgeoning tourism property sector in the country.

Phan Huu Thang, head of the Foreign Investment Management Bureau under the Ministry of Planning and Investment and a founder of the young association, said in a briefing in HCMC last week that the idea came from the demand of individuals, organizations and local and foreign companies which are active in the tourism property field across the country.

Thang said that many experts and investors appreciated the potential of tourism property in Vietnam and that the segment was witnessing significant development through projects invested by local and foreign investors.

However, challenges remain, such as administrative procedures, infrastructure and land prices which hinder the promotion of the local tourism property market to international investors.

Thang said the young VnTPA, which is an arm of the Vietnam Real Estate Association, would be a platform for tourism property companies to share experiences, seek opportunities and voice their difficulties to find solutions.

VnTPA will support its members in promoting investment opportunities to the field and build up a favorable legal environment to attract investors.

Thang said the priority of the young association was to recheck difficulties that tourism property developers face and to seek solutions to create a clear investment environment.

The young association will review tourism property development in the context of investment trends.

The promoters say 100 companies have registered for membership to the Vietnam Tourism Property Association, whose launching ceremony will be held at the Park Hyatt Hotel Saigon in downtown HCMC on August 14.

Source: The Saigon Times

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