VNAT: Foreigners can manage tourism development fundIndividuals, firms, tourism associations and financial institutions at home and abroad will have the opportunity to manage a tourism development assistance fund planned to be established in September, according to the Vietnam National Administration of Tourism (VNAT). The Prime Minister has okayed a plan to establish the fund to boost promotions as well as develop human resources for the local tourism industry. The fund will get an initial budget of VND200-300 billion (US$8.97-13.5 million) from the State and other sources, including part of visa fee revenues and admission fee revenues at tourist sites, and corporate contributions. Tuan said the establishment of the fund and the bidding mechanism to select an eligible fund operator would be a positive step for the tourism sector. Last year, the Ministry of Culture, Sports and Tourism got the Prime Minister’s approval for establishing the fund to support, promote and diversify tourism products as well as develop human resources.

Source: VietNamNet News September 12, 2016 17:03 UTC