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ADB helps Vietnam improve tourism infrastructure
  • | dtinews.vn | November 25, 2014 10:07 PM

The Asian Development Bank (ADB) and the government of Vietnam today signed a USD50 million loan agreement to upgrade tourism infrastructure, boost tourist spending and create more jobs in the industry for poor and ethnic minority communities.

At the signing ceremony, State Bank of Vietnam Governor Nguyen Van Binh represented the government, and Country Director for Vietnam Tomoyuki Kimura, represented ADB.

“Tourism development projects are an effective way of creating jobs, developing work skills, and reducing poverty,” said 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 Vietnam’s economy. In 2013, Vietnam received over 7.5 million international tourists, a 10.6% increase from the year before. The sector directly contributed 4.5% to gross domestic product and sustained 2.3 million jobs last year, more than 9% of the country’s total employment.

The project aims to boost competitiveness in tourism in Dien Bien, Ha Tinh, Kien Giang, Lao Cai, and Tay Ninh. Upgrades to 45 kilometers of rural roads will open access to attractions in underdeveloped areas with large ethnic minority populations. It is estimated that more than 30,000 people will benefit from better access to markets and social services. Environmental conditions at tourist sites will also be improved.

Projects in these five provinces are expected to increase annual tourism revenue to USD480 million by 2019, compared to $190 million in 2012, helping to create 85,000 additional jobs, about 60% of which will go to women. The project will also support regional cooperation and integration by helping Vietnam improve regional tourism standards and promote multi-country tour circuits.

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