Thursday, 3 July 2014

Vietnamese investment surges, sees room for growth in hotels

Vietnam is the ninth largest investor of the 36 countries with investment in the country, with US$513 million invested in seven projects as of the end of April, according to a June 26 forum linking businesses between the two countries.

Bilateral trade is also surging, the forum was told.

During the first four months of this year, Vietnam-Myanmar trading rose 46.29 per cent from the year-ago period, to $103 million.

Vietnamese trade totaled $117 million in 2012 and $228 million in 2013.

This year, as trade surges, Vietnamese investors are showing heightened interest in Myanmar’s tourism sector.

A trade and tourism fair is being held annually. The Vietnam-Myanmar Trade Services and Tourism Fair has been convened introduces Vietnamese products and enterprises to Myanmar.

“The fair is intended to share trade information between business owners from two countries and to complement tourism services and projects,” said Nguyen Thi Hong, vice-chairperson of Ho Chi Minh City People’s Committee.

More than 100 Vietnamese business people welcomed their peers from Myanmar to the fair. Thein Han, vice-chairperson of Union of Myanmar Federation of Chamber of Commerce and Industry and Kyaw Soe, secretary of Yangon City Development Committee helped organise it.

“The main attraction to Vietnamese investors is Myanmar’s tourism sector. The hotels being constructed in front of the Sedona Hotel alone are worth $400 million,” a member of Myanmar’s business federation said.

source: Eleven Myanmar
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