Vietnamese firms advised to invest in Cuba’s tourism market
Updated : Thursday, May 10, 2018 10:19 AM (GMT+0700)

Amidincreasing demand from international visitors, Cuba plans to increase itsnumber of hotel and guesthouse rooms to 108,000 by 2030, opening up greatopportunities for Vietnamese investors operating in the fields of property,restaurant and tourism. 

Scene at the workshop - Photo: VNA

Indira Lopez Arguelles,Cuban Consul General in HCM City, revealed the information at a workshop themed“Cuba – a destination within reach” held in the city on May 9. 

The Consul General saidtourism is an economic sector recording the fastest growth and the secondbiggest foreign currency earner in Cuba. 

In 2017, a record number ofover 4.7 million tourists visited the country and tourism revenue hit 3 billionUSD. Cuba is likely to become the second largest tourist destination in CentralAmerica after Mexico, with the flow of visitors estimated to reach 12 millionin the upcoming years.

However, the country now hasjust 82,000 hotel and guesthouse rooms run by private owner, she said, addingthat the figure is falling short amid the rapid rise in the number of tourists.

Cuba wants Vietnameseenterprises to boost their investments and develop services and tourismproducts in Cuba to capitalise on local potential and strengthen economic tiesbetween the two nations, stressed the diplomat.

Le Truong Hien Hoa, Directorof the Ho Chi Minh City Tourism Promotion Agency, said tourism is a spearheadedsector of Vietnam and Ho Chi Minh City in particular. The fact, in combinationwith fruitful traditional relations with Cuba, creates favourable conditionsfor the nations to promote tourism cooperation, he added.

Hoa also noted that Cuba isconsidered one of the potential markets for tourism businesses in Vietnam,particularly in Ho Chi Minh City.

Ho Xuan Lam, Vice Directorof the Investment and Trade Promotion Centre of Ho Chi Minh City, pointed tothe fact that the Cuban market is become more open and the Cuban Government hasbeen calling for investments in building seaports, railways, airports and ITinfrastructure.

This is a great chance forVietnamese firms, who in turn need to promptly get updated on the market,understand local preferential policies for investors in tourism, and buildfeasible business plans, Lam suggested.

Besides, Vietnamesebusinesses should diversify products and services, and further promoteVietnam’s images to Cuban people in a bid to foster tourism development of bothnations, he added.


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