Working to put a property spin on tourism tourism

Truong Thinh Group chairman Vo Minh Hoai tells VIR why real estate tourism investments are promising and how they can help boost tourism development in Quang Binh province and Vietnam.

What is your assessment of Vietnam's real estate tourism development potential?

Mr Vo Minh Hoai

Like many other investment projects in Vietnam, real estate tourism projects can strongly develop in locations with favourable conditions.

This does not mean it will be difficult for all investors to perform well when they concentrate their projects at one location. I think that each investor will find the best investment opportunities based on its own conditions and capacity.

Investors in Quang Binh understand the values and potential of the province’s real estate tourism sector. I think they have big expectations, though it remains difficult to awaken such values and potential. But, what is difficult today will be advantageous tomorrow.

In Vietnam, real estate tourism investment is very appealing given the successes we have witnessed in developed countries. Vietnam’s steady socio-economic development provides favourable pre-conditions for real estate tourism development, which offers huge opportunities and promises long-term rewards.

What are your company’s achievements?

Truong Thinh has sustainably grown up from a small construction company into a big group operating in the tourism industry thanks to the government’s encouraging policies. We employ more than 2,000 workers and own 15 member companies operating in many sectors.

With the great tourism development potential in the central region and our own efforts, we believe our group will grow even more steadily. We have planned to cooperate with the local government to develop several more tourism projects.

Why did you choose Quang Binh province?

Firstly, Quang Binh is my homeland. I want to contribute to the province’s development with real estate tourism projects. We also call for other investors to come to the province.

Secondly, we want to prove that investment in the province will not be so difficult to be successful as some may think.

Provincial authorities have introduced appropriate incentive policies to create real favourable conditions for investors, including Truong Thinh Group.

Moreover, Quang Binh is one of the most attractive tourism spots in Vietnam, because it is home to various natural landscapes which are connected with the central region’s tourism heritage system. The province boasts many historic revolutionary sites and particularly Phong Nha-Ke Bang natural tourism area, which is also a World Natural Heritage site with many long and beautiful caves and grottos.

Here we have opened the Thien Duong Cave, which is considered the longest cave thus far discovered in the world.

However, some difficulties remain in doing business in Quang Binh. For example, in terms of cost-effectiveness, enterprises are often interested in localities with more favourable infrastructure conditions to effectively implement their projects. Quang Binh’s environment conditions are also at basic levels and need to be improved. But, I believe in the province’s bright future.

Why did you decide to build and manage the five-star Sun Spa Villa Resort in Quang Binh by yourself?

Tourists have many purposes for their trips to any location. Thus, investors will have to research specific groups of customers to tailor the corresponding services.So far, I think luxury travel is still prevailing. However, this is changing and middle-income earners are increasingly enjoying high-end resorts and hotels.

Our Sun Spa Villa Resort is modern and offers customers the most comfortable and convenient facilities and services. We manage the resort by ourselves and find that Vietnamese people can do everything, without the need of foreign management staff.

The most important thing is how we can ensure our products’ quality and how customers value our products. The best service does not mean that it is the most expensive, but means that it is the most effective.

Do you plan to anchor projects in other localities outside Quang Binh province?

We are studying some real estate projects in Hanoi and Ho Chi Minh City.