The Ministry of Culture, Sports and Tourism wants to reduce the value of insurance deposits by 80 per cent to help travel companies that are struggling because of COVID-19.
The fourth wave of COVID-19 infections in Vietnam has caused disruptions to most sectors once again as the country was preparing for the tourism season.
For travel firms to survive the pandemic, they have had to undergo restructuring.
2020 was a disastrous year for the aviation and tourism industries, which were hit hard by the Covid-19 pandemic.
Ho Chi Minh City’s travel firms have announced a number of domestic tours for Tet (Lunar New Year) with huge discounts and promotions.
If one drop of milk is given to every business, all of them will remain alive, but none will be strong enough to compete with the world’s giants, Tran Dinh Thien, a respected economist, has noted.
Nguyen Trung Khanh, general director of the Vietnam National Administration of Tourism (VNAT), said there are many things that need to be done to recover the tourism industry.
Thousands of tourism firms have suffered heavily from Covid-19. Many of them have had to shut down, while others have to take extra jobs to earn a living and survive the current difficulties.
Travel firms and tour operators in HCM City are offering a range of domestic tours with attractive discounts to revive demand after the COVID-19 shutdown.
Some restaurants and hotels owned by Saigontourist have begun selling food online, while iVIVU, the online hotel room booking platform, has started selling combo lunch and Hue Smile local specialties.
The Ministry of Finance has slashed administration fees in numerous sectors to help the economy get back on its feet when the COVID-19 pandemic eases.
The owners of small and 3-4-star hotels, valued at tens or hundreds of billion of dong, have suffered the most from COVID-19.
In a recent talk, directors of two travel firms, one based in Hoi An and the other in Da Nang, complained that their capital has been ‘buried’ in supply chains since the epidemic outbreak.
Vietnamese will be the first to travel after the pandemic ends, and if there are attractive demand stimulus programs, the market will need only several months to recover, experts say.
Many travel firms have to halt their operation as they do not have sufficient sources of revenue amid the Covid-19 crisis.
The Nha Trang-Khanh Hoa Tourism Association has proposed allowing travel firms to withdraw 50% of their compulsory deposits at banks to maintain their operations and pay salaries as they are facing hardships due to Covid-19.
Stretching for 55 km along the Hau River, Can Tho city boasts favourable conditions to develop river-borne tourism, a typical product of the locality.
Several Vietnam’s major tour operators have simultaneously announced a postponement of all tours to China and support for any affected customers amid the ongoing outbreak of acute pneumonia caused by a novel coronavirus (nCoV) in China.
In July 2019, ministries and people’s committees of central cities and provinces received a request to study Chinese policy on night-time economy development.