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Vietnamese firms advised to invest in Cuba’s tourism market

Cuba plans to increase its number of hotel and guesthouse rooms to 108,000 by 2030, opening up great opportunities for Vietnamese investors operating in the fields of property, restaurant and tourism
Vietnamese firms advised to invest in Cuba’s tourism market ảnh 1Scene at the workshop (Photo: VNA)

HCM City (VNA) –Amid increasing demand from international visitors, Cuba plans to increase itsnumber of hotel and guesthouse rooms to 108,000 by 2030, opening up great opportunitiesfor Vietnamese investors operating in the fields of property, restaurant andtourism.

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

The Consul General said tourism is an economicsector recording the fastest growth and the second biggest foreign currencyearner in Cuba.

In 2017, a record number of over 4.7 million touristsvisited the country and tourism revenue hit 3 billion USD. Cuba is likely tobecome the second largest tourist destination in Central America after Mexico,with the flow of visitors estimated to reach 12 million in the upcoming years.

However, the country now has just 82,000 hotel andguesthouse rooms run by private owner, she said, adding that the figure isfalling short amid the rapid rise in the number of tourists.

Cuba wants Vietnamese enterprises to boost theirinvestments and develop services and tourism products in Cuba to capitalise onlocal potential and strengthen economic ties between the two nations, stressedthe diplomat.

Le Truong Hien Hoa, Director of the Ho Chi Minh CityTourism Promotion Agency, said tourism is a spearheaded sector of Vietnam andHo Chi Minh City in particular. The fact, in combination with fruitfultraditional relations with Cuba, creates favourable conditions for the nationsto promote tourism cooperation, he added.

Hoa also noted that Cuba is considered one of thepotential markets for tourism businesses in Vietnam, particularly in Ho ChiMinh City.

Ho Xuan Lam, Vice Director of the Investment andTrade Promotion Centre of Ho Chi Minh City, pointed to the fact that the Cubanmarket is become more open and the Cuban Government has been calling forinvestments in building seaports, railways, airports and IT infrastructure.

This is a great chance for Vietnamese firms, who inturn need to promptly get updated on the market, understand local preferentialpolicies for investors in tourism, and build feasible business plans, Lamsuggested.

Besides, Vietnamese businesses should diversify productsand services, and further promote Vietnam’s images to Cuban people in a bid to fostertourism development of both nations, he added.-VNA
VNA
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