The Viet Nam Tourism Property Association is expected to begin operating on Friday in HCM City.

It will promote investments and co-operation in the sector, as well as contribute to perfecting the legal environment, according to Phan Huu Thang, one of the association’s founders, and head of the Foreign Investment Agency under the Ministry of Planning and Investment.

Initially, it will focus on identifying difficulties faced by businesses and seek solutions.

Assessment of the current market situations, both in and outside Viet Nam, will help members build suitable plans.

Luong Van Ly, chairman of Dai Nam Long Consultancy Joint-Stock Company, said the country’s tourism property facilities needed improvement to compete with regional markets.

“Several foreign investors have shown interest in investing in this area but due to the lack of co-ordination between local companies, their demands have not been satisfied,” said Ly.

Association members will be individuals and institutions involved in investment and consultancy in tourism property development, finance, design and construction, brokerage and marketing and tourism real estate.

To date the VnTPA has received 100 business registrations. Foreigners and foreign insituations may become honourary members. The association will be a part of the Vietnam Real Estate Association.

VietNamNet/Viet Nam News