ADB helps improve tourism infrastructure

November 26, 2014 | 08:55

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The Asian Development Bank (ADB) has pledged to provide a US$50 million loan to help Viet Nam upgrade tourism infrastructure, boost tourist spending, and create more jobs in the industry for poor and ethnic minority communities.

The agreement to this effect was signed by Governor of the State Bank of Viet Nam Nguyen Van Binh and ADB Country Director Tomoyuki Kimura in Ha Noi on Tuesday.

“Tourism development projects are an effective way of creating jobs, developing work skills, and reducing poverty,” said ADB Country Director Tomoyuki Kimura. “A core goal of this project is to promote inclusive economic growth by creating income-generating opportunities to benefit poor and ethnic minorities, women in particular.”

Tourism plays an increasingly important role in Viet Nam’s economy. In 2013, the country welcomed over 7.5 million international tourists, up 10.6% from 2012. The sector directly contributed 4.5% to gross domestic product and sustained 2.3 million jobs last year, accounting for more than 9% of the country’s total employment.

The project aims to boost tourism competitiveness in Dien Bien, Ha Tinh, Kien Giang, Lao Cai, and Tay Ninh, five provinces situated within the Greater Mekong Subregion economic corridors. More than 30,000 people will benefit from better access to markets and social services, while environmental conditions at tourist sites will be improved.

The project will also support regional cooperation and integration by helping Viet Nam implement regional tourism standards and promote multi-country tour circuits.

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