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Vietnam Business » Vietnam Real Estate Market News » Investors target theme parks

Investors target theme parks

Pham Trung Luong, deputy head of the Viet Nam Tourism Development Research Institute, said there were good prospects for the development of recreational parks, which account for a large proportion of the tourism sectors earnings.

Viet Nam is an attractive destination for investors involved in the entertainment business, Steven Ryan, executive producer of KB Creative Advisors has said. The growth in the entertainment industry is attributed to the stability of the economy, the high proportion of young people and an increase in purchasing power. The Ministry of Planning and Investment said the entertainment sector had grown rapidly, particularly in the south. There were 121 entertainment FDI projects with a combined registered capital of US$3.5 billion launched in the first five months of this year, representing almost half of the countrys total FDI. Of the projects launched this year, 67 were in the south and 30 in the north. The remainder were in the central region. Leading the way were HCM City, Ha Noi, the southern coastal province of Ba Ria-Vung Tau and the central province of Khanh Hoa. Domestic businesses have gained some initial successes, namely the Dam Sen and Suoi Tien parks in HCM City, the water park in the central coastal city of Nha Trang and Bao Son paradise park in Ha Noi. Among the biggest projects is CT Groups $1 billion Vinh Loc Township and theme park. Tong Van Nga, vice chairman of the Viet Nam Real Estate Association, predicted that the countrys entertainment sector would blossom over the next decade. Ryan said the sector had learned from its past mistakes when it failed to meet high-end demand, particularly from foreigners. He said the sector should invest in adventure parks, where much of the public demand lay.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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