Egypt’s Wanna Explore Travel Limited has been licensed to provide services of operating tours and other direct support for air transportation in Vietnam.
The project worth 300 million USD was registered in the southern economic hub of Ho Chi Minh City. Vietnam News Agency reports.
To date, Egyptian firms have registered to invest more than 302 million USD in 11 projects in Vietnam. This is the first time an Egyptian business has big investment into Vietnam.
This means Wanna Explore Travel’s project has made up most of Egypt’s investment in the Southeast Asian country.
Also read: Foreign Investment in Vietnam
According to a report on VNExpress, even as increasing numbers of tourists visit Vietnam, there is a lack of products and services for them to consume, industry insiders say. The problem of visitors’ not spending much during their stay in the country was a hot topic discussed at the Vietnam Travel and Tourism Summit 2019 held in Hanoi on Monday.
In 2018, the Vietnam welcomed 15.5 million visitors, an increase of 19.9 percent year-on-year, contributing about 8.5 percent to the GDP. In the first 11 months of this year, the number of foreign arrivals reached 16.3 million, up 15.5 percent over the same period last year.
Despite these impressive figures, industry insiders said the tourism industry needs to find ways to make visitors stay longer and spend more in Vietnam.
Many local authorities said they have recognized the challenge and begun to look for ways to increase visitors’ spending.