ATTRACTING GREEN FDI INTO TOURISM OF VIETNAM

VIETNAM NATIONAL UNIVERSITY, HA NOI UNIVERSITY OF ECONOMICS AND BUSINESS FACULTY OF INTERNATIONAL ECONOMICS AND BUSINESS ANNUAL THESIS ATTRACTING " GREEN" FDI INTO TOURISM OF VIETNAM Instructor: Ph.D Nguyen Manh Hung Student: Nguyen Thi Nhung Anh Class: QH-2010E-CLC Faculty of International Economics and Business Hà Nội, 8/2013 Contents INTRODUCTION Vietnam is a country has the advantage of natural ecological, historical and cultural conditions, especially a lot of tangible and intangible heritage Besides, Vietnam also has more than 1,000 km of coastline stretching from the North to the South However, in the first few months of 2013, the country's tourism continues growing negatively Why does that "smokeless industry" in our country grow such badly? According to statistics, except January, 2013, tourism growth in international arrivals is 2.2% over the same period in 2012, while the consecutive months from February , 2013 to May , 2013, international passengers fell compared with the same period in 2012, even in the peak months of Vietnam tourism ( November to March) Although the rate of decline is only a number, this is still clearly alarming And with the way to improve Vietnam tourism industry today, is there anything improved in attracting international visitors during the remaining months of 2013? Being curious about this exciting new paradigm, I chose this topic after many considerations It seemed to be a very complex and difficult issue to me, because it is full of new concepts, new aspects However, I saw the necessary of problem for not only academic field but also practical field With the enthusiastic instruction of my advisor, and my own efforts to learn about this issue, I have already completed my small thesis on the topic “Attracting " green" FDI into tourism of Vietnam” With the deep and sincere gratitude, I would like to express my great thankfulness to my instructor, Ph.D Nguyen Manh Hung In the process of completing this thesis, he has helped me a lot in orientating the outline, providing me with some update news and specialized knowledge, and especially, he has encouraged me to successfully accomplish this working paper Moreover, I also want to send my appreciation to the Faculty of International Economics and Business, University of Economics and Business, for giving me an opportunity to try myself in preparation for my official thesis next school year Best regards, Nguyen Thi Nhung Anh CHAPTER INTRODUCTION ABOUT THE ISSUE 1.1 The urgency and significance of research issue Vietnam has enough elements for the development of tourism into a spearhead economic sector In 2008, Vietnam welcomed 4,218 million international passengers, this figure in 2009 was 3.8 million, down 11% from the previous year In 2012, the number of international visitors to Vietnam is about 6.8 million, domestic tourists reached 32.5 million Revenue of Vietnam tourism in 2009 reached approximately 68.000 billion 160,000 billion in 2012 Tourism contributes 5% to the GDP of Vietnam However, Vietnam's tourism industry for many years, is also alarmed about the victims "slash cut", visitors bullying, poor infrastructure, poor service quality, and poor management, making a bad impression with tourists For more than 20 years of tourism development, Vietnam just focus on natural exploitation-oriented development strategy, and lacks of investing in a basically for travel, and other far countries in the region There are still no theaters, performing arts center good enough to introduce to international visitors, to diversify cultural tourism products After the outbreak period 2008 - 2010 with several billion projects, from 2012 to now, a series of real estate projects (hotels and resorts) in the tourism sector has been revoked Data from the Foreign Investment Department showed up to 20/6/2013, total FDI capital registered in the field of real estate business more than $ 48 billion, down $ 1.7 billion compared to the end of 2012 This is the area of FDI have also decreased in the largest amount Among tourism projects has been revoked, we have to mention the big names like Pearl of Asia worth billion euros in Phu Quoc of Trustee Suisse Group (Switzerland), The world of Cultural wonders worth $ 1.3 billion in Vung Tau of Good Choice (USA) Additionally, more than 30 tourism projects in North Cam Ranh peninsula (Khanh Hoa) are also warned to be revoked due to delays in implementation An expert in the field of investment management explained, due to the global economic difficulties, raising capital is not like expected, the bosses can not afford to deploy their commitments However, Dr Le Dang Doanh - former Director of the Research Institute for Economic Management Central said that many units just like "take seat" rather than serious investment, so when the situation becomes more difficult, there will be more hangged and slow conducted projects At the last session, some deputies asked questions "Vietnam tourism is not developed commensurably to the potential" when it only ranked 80th out of 139 countries, behind Singapore, Malaysia and Thailand - the fewer of the national natural and cultural heritage in the world Minister Hoang Tuan Anh also said the tourism infrastructure in Vietnam is inferior to other countries "At present, Vietnam has 575 hotels from stars to stars Meanwhile, high-qualified hotels in Thailand, Malaysia, Singapore more than us," Prof Nguyen Mai President of FDI Enterprises Association states that in the period that the world economy is more volatile, not need to make by all means more tourism projects We need to evaluate objectively which factors Vietnam tourism lacks to attract investment "Do not continue spreading state licenses for all projects and then if they not work, everything we can is revoking," he said "There's still a lot to with attracting investment in the hotel, tourism sector, , one of the critical issues to promote Vietnam tourism development," the experts concluded This is the reason our tourism needs attracting " green " FDI It's time to act, to save an indispensable economic sector 1.2 Literature review The paper work "Sustainable tourism in Vietnam - The indicators" of Dao Huy Tuan has analyzed some factors which affects sustainable tourism development in our country, as well as the role of that industry with our economy The author wrote : " Currently, sustainable tourism is not only a temporary phenomenon , but a trend of the times, the targets set for development and has important implications not only in economic terms but has special significance for the sustainable development of the society, under the perspective of community resources exploitation and environmental (including natural and human) on a global scale The indicator are often used for the purpose of getting to know the fastest way of complex systems, such as issues relating to sustainable development, to take timely measures, impacts to for development activities easier, more regular and more easily identified During the 40 years of establishment and development, Vietnam tourism has made significant progress and has now become an economic sector rightful place in the national economy However, the exploitation of natural resources for tourism development besides the positive impact is gradually revealed negative effects: inadvertently contributed to the degradation of natural resources, ecological environment pollution , threatening the survival of natural ecosystems and endemic change living habits of the species Sustainable development of tourism is the only solution to overcome the environmental pollution, limiting the ability to degrade natural resources, maintaining biodiversity " Another paper work " Some thoughts of sustainable tourism development " - author Phan Huy Xu - Prof., Vice President, Head of Tourism Department, Saigon College of Arts and Cultural Tourism should be taken into account The author has mentioned some concepts of sustainable, or "green" tourism, and given some solutions to develop "green" tourism in Vietnam " Although there are several concepts, " green" tourism requires these factors First, minimizing negative impacts to the natural and human environment Tourism must be environmentally friendly Second, ensuring the multiple benefits of the local population Increasing local incomes Third, being responsible for tourism development today and tomorrow, so "green" tourism means tourism responsibilities " On the other hand, the work " Green tourim development in Vietnam" of Dr Tran Van Hung has analyzed deeply the potential as well as solutions to develop " green" tourism in Vietnam The paper gives concept of " green" tourism: " "Green" tourism is a type of nature and culture -based tourism , with environmental education, contributing to conservation and sustainable development efforts , with the active participation of local communities In recent years, "green" tourism has been growing rapidly in many countries around the world and is increasingly attracting the attention of the broad social strata, especially for those wishing to visiting and recreation Besides contributing in significant nature conservation, protection of biodiversity and cultural community, the development of "green" tourism has brought enormous economic resources, created additional employment opportunities and improved income for the country as well as local communities, especially people in remote and sparse areas - where there are the natural reservation and the attractive landscape In addition, "green" tourism also contributes to improving people's health and knowledge through environmental education, cultural history, and recreation Therefore, in many countries and regions in the world, besides the economic benefits, "green" tourism is seen as a very effective solution to protect the ecological environment through reducing pressure to exploit natural resources to serve the needs of tourists, the local people to participate in tourism activities " Moreover, the author stated the potential of Vietnam tourism through a lot of figures : " Located in the belt of tropical monsoon climate, Vietnam's territory stretches over 15 degrees latitude with ¾ is hilly and plateau, with over 3,200 km of coastline, thousands islands On the territory that was inhabited by many ethnic communities with a history of thousands of years of water and struggling to keep up with the more traditional country has its own characteristics, many cultural and historical monuments, Vietnam has many facilitate the development of green tourism and ecotourism Vietnam has a high biodiversity, and ecosystem characteristics Regarding the composition of plant and animal species, in Vietnam there are 14 624 species of plants in 300 families, including many ancient and rare species, valuable species economy, including more than 1000 species of medicinal plants, 100 species of edible forest fruit About 11 217 animals to species and subspecies, including 1,009 species and subspecies of birds, 265 species of mammals, 349 species of reptiles, amphibians, 2000 species of marine fish, 500 species of freshwater fish and thousands of shrimp, crab , molluscs and other aquatic organisms In mammals, 10 species of Vietnam tropical characteristics such as: Cross, Hill, flying fox, 10 civet cartridge, loris, gibbon, Pangolin, elephants, tapirs, rhinos and especially in the 20th century with species New mammal discovered they were in Vietnam This proves that the biodiversity of Vietnam remains high and there may be many new species in Vietnam Along with the natural flora and fauna, Vietnam is also a center of artificial plants Worldwide, there are crop center , are concentrated in the center of Southeast Asia (South China - Himalayas, India Burma, Indochina - Indonesia) with approximately 270 agricultural crops, particularly in Vietnam has more than 200 plant species, of which 90% crop of the Center for South China, 70% of central India plant, Myanmar This is a prerequisite for the organization of green tourism development " 1.3 Research purposes and missions 1.3.1 Research purposes Through research on the development of tourism in Vietnam, that topic follows the direction to clarify the impact of FDI on tourism, then recommends measures to attract "green" FDI associated with sustainable development Vietnam tourism 1.3.2 Research missions - Clarifying the concept of "green" FDI Defining criteria to identify "green" FDI - Considering the situation of Vietnam tourism development as well as deterioration in some resorts - Researching some outstanding cases of Vietnam resorts - Proposals and recommendations some immediate measures to attract "green" FDI associated with sustainable development in Vietnam tourism 24 This Tet holiday , Quang Ninh has welcomed 20 thousand tourists per day, including thousands of international visitors arriving by cruise ship-sized star rating A great deal of arrivals , with many close tourist destinations, a range of services incurred in each tour pinched guests For example, conveying passengers on large ships by canoe, motor boat to Bai Chay ferry area and Saigon Port with too high price has made bad impressions on tourists 3.2.2.3 Hoi An Ancient Town • Natural tourism environment In Hoi An, the perennial people there moved elsewhere, leaving space for restaurants, cafes and hotels, so instead of seeing the old houses are still occupied, tourists just see the space behind the souvenir shop In Hoi An now, tourists only find a drab neighborhood, no longer bearing the ancient cultures of Vietnam During daytime , that place is almost inactive, only at night, the lanterns are lighting , bringing little beauty for sightseeing and photography • Socio-economic tourism environment Scale of specialized business in Hoi An is still small, the benefit of the community is not awared by organizations or individuals The tourism industry lacks of strategic planning Massive tourism development led to a overload of the monuments Business civilization has not been focused Environmental pollution is alarming Therefore, raising awareness of protecting landscapes, urban infrastructure construction, and accumulating imperative solutions proposed by businessmen experiences are 25 In additon, Hoi An tourism is facing a shortage of labor management With 3,500 employees working in the tourism business, accounting for 31% of the total number of employees directly involved in the tourism - service industry , which has 1,400 employees trained professionally, accounting for 35% Labor force in the tourism industry is very young, with 93% under the age of 45, with professional training and foreign language, which can meet the requirements of current employees, but the employees which are highly trained from universities are currently only 20% Thus, the labor force is still weak, mostly are people from other provinces and overseas Mr Tran Thai Do - Director of Asian Silk said: "Towards the sustainable development, enterprises should note three factors: distinctiveness, professionalism and social responsibility." => In Sapa, Ha Long Bay and Hoi An, people just want to earn quickly money by rushing to build restaurants, hotels, reinforced only for travelers to sleep one or two nights and leave Because of poor management capabilities of the famous tourist resorts, Vietnam has not fully exploited its tourism potential with 3,000 km of coastline and the world famous cuisines Vietnam in 2007 attracted 4.2 million foreign visitors, while Thailand threefolds that number and Singappore has more than 10 million visitors Statistics show that 85% of visitors to Vietnam never return CHAPTER 4: RESEARCH RESULTS 4.1 The impact level of three tourism environment 26 4.1.1 The impact level of socio-economic and human tourism environment - the enterprises and local citizens Entertainment services in the resorts are too little and poor Tourism products are awfully sketchy, nearly can not persuade tourists to spend money Let try traveling to the islands which is considered to be fairly currently developed such as Mui Ne, Vung Tau, Ha Long, Phu Quoc What will tourists for the end of a long evening, after slobbering seafood by the sea Performing Traditional Arts, introducing unique indigenous cultural features ? Very rare and if there are, they still have not been planned professionally Going dancing, go to bars? Even more difficult Wanting to enjoy specialities of local cuisine ? Up to 23 p.m, all of the shops are closed in union If we desire to convince customers to come and decide to come back next time, we have to keep the price level stable and deploy as many promotions, discounts to stimulate tourism as well Unfortunately, only a few localities such as Binh Thuan, Con Dao maintain the necessary stability The majority of tourism resorts push visitors into a nightmare, as the different types of services increase prices unreasonably in the peak season Quality of human resources for the tourist industry is also a problem Tour guide, receptionist or room service , dining bartender or cab driver are creating an important link in the perfect quality chain service in the eyes of visitors Except for a few local management build friendly culture for that team as Con Dao - Binh Thuan - Da Nang , just try to Sam Son - Ha Long - Cat Ba or Vung Tau and see, people "slash cut" visitors everywhere, according to the type of thinking "people only travel here once and never come back." The main reason 27 is that those above places are not focused on attaching the country's benefits with the practical benefit of coastal communities and therefore, they must always be faced to the challenges on the path of sustainable development Because if people are aware of the fact that joining hands to build the strong brand for the province's tourism also means that life is getting the better , people are sharing more profits in different forms, then they would voluntarily participate in tourism development in the most exciting ways 4.1.2 The impact level of natural tourism environment One of the reasons which make the advertising and promotion of tourism in Vietnam inefficient is that funding for tourism is still too little Compared to many countries having developed tourism industry in Southeast Asia such as Malaysia, Thailand, with a cost of promotion and advertising over $ 100 million / year, Vietnam's budget is only around $1,5 million / year Destination management, quality management services are limited the massive growth but lack of overall planning had made initially pristine natural landscapes to be broken completely Dreamy beaches are now covered and cut by system of hotels - resorts The naturally blessed beauty are mercilessly destroyed by the people and tourists Infrastructure does not keep pace with the development of concrete, rapid urbanization, resulting in broken ecological landscape Wastewater treatment systems is unable to work leading to environmental pollution Hot issue of public concern, as well as pressure on the tourism industry is tourism environment has not improved much, especially " slash cut ", pinched, 28 stalking, frauding tourist in some resorts influence negatively visitors' psychology are not be settled Lots of sea, islands rich of advantages but can not reach the speed of tourism development as desired because of the lack of infrastructure Currently, only those lucky islands having airports as Nha Trang - Da Nang - Con Dao Phu Quoc can attract numerous visitors Because traveling to the islands by means of high-speed trains, ships, canoes, motorboats spends too much time , and is always so totally dependent on weather conditions, sea waves To develop tourism, electricity and fresh water is sufficient prerequisite But Phu Quy , Quan Lan, Cu Lao Cham, Ly Son can not meet that requirements - even though the demands for exploring this fascinating destinations of tourists are extremely large Duplicate extraction method, trampling each other and not finding out and fully exploiting their own strengths are problems that a lot of destinations have to cope up with Guests can not excited when walking along the northern to central coast to enjoy the same model of tourism products Just try to Cat Ba Do Son and Sam Son - Cua Lo - Thien Cam , the tourist is only in a circle eating - resting - sunbathing But if each place can identify local strengths and exploit, diversification will immediately attract tourists For example, Khanh Hoa can take advantage of Nha Trang Sea Festival, develop MICE tourism forms (combined conference and workshops) Da Nang fully exploit the advantages of exploring tourism - resorts, becoming hub for visitors and tourism services Thua Thien - Hue focus on cultural tourism (heritage, festivals, cuisine) All will surely become a magnet for irresistible attraction 29 4.2 Bad effects of low-qualified resorts on Vietnam tourism A sad news of Vietnam tourism in recent days is that international visitors to Vietnam in the first months of 2013 were only 2.9 million, down 1.4% compared to the same period last year According to General Statistics Office , international visitors to Vietnam in May was only 558.800 visitors, down 9% compared to the previous month and is the third consecutive month of declining international arrivals Sadly, more than 80% of tourists to Vietnam did not return Although it is one nation having many advantages in developing smokeless industry, Vietnam has not fully utilized and promotes all the strengths Therefore, not only wasting the available resources , Vietnam tourism has also not contributed much to the country's economy While in many countries, tourism accounts for 30-40% of GDP, then in Vietnam, this number is very small Not only negatively affecting the country's economy, tourism also causes significant impacts to the reputation of Vietnam As discussed above, poor infrastructure, high tour prices with low quality tour, " slash cut " are the main reasons that make foreign tourists not to come to Vietnam twice This has made Vietnam tourism less developed, and the image of Vietnam becone more ugly in the eyes of investors We will encounter numerous difficulties in finding investors for the smokeless industry, and even for other fields CHAPTER : SOME SOLUTIONS TO ATTRACT “ GREEN “ FDI INTO TOURISM OF VIETNAM 30 Facing the face that the tourism industry is going down and down, we need to find solutions to attract " green" FDI to develop green tourism, namely to increase investment in infrastructure and human resources 5.1 Development of physical infrastructure and human resource training The investment in infrastructure development of public transport, public space planning, information and communication, energy, environment and related fields to ensure uniformity, eligible and facilities to serve tourists, especially the system of parks and tourist attractions, lodging facilities, restaurants, information, counseling and services for tourism Training and human resource development are enhanced in quality and quantity, to ensure balanced sectoral structure, the level of training to meet the needs of tourism development and international integration Network training institutions should be more interested in building a modern, standards of teacher quality and standardized training curriculum frameworks The implementation of the strategy, planning, human resources development plan travel to suit the needs of tourism development in each period, each regions in the country Needing more attention to human resource managers and skilled workers, implementing diversity training methods, encourage job training and self-training on business needs 5.2 Market development, introducing tourism products, tourism branding Needing to focus on selectively attracting market segments of tourists who have high spending power and long-stay, noting the market of Northeast Asia, Southeast Asia and the Pacific, Western Europe and Eastern Europe Expanding attracting visitors from new markets such as the Middle East, India Developing 31 strong domestic market, interest leisure segment, entertainment, and shopping weekend Promotion of introducing in a professional manner to our target market, getting travel products and brands are key tourism, tourism promotion associated with promoting trade, investment and foreign affairs, culture goods Focusing on developing national tourism brand development based on regional tourism brand, local brands and business travel tourism products, especially the brand competitive position in the region and internationally In this area, we need special enhanced collaboration elements across sectors, and local levels to ensure consistency 5.3 Innovation to improve management efficiency The state need to perfect the mechanisms and policies on researching and amending the Law on Tourism to create a favorable legal environment for development The tourism industry should promote the application of systems to industry standards, testing, monitoring and maintaining product quality, tourism services, a system of inspection, assessment and management, thereby healthy competitive environment in the tourism industry Continuing renewing state business travel in the direction of the entire share capital of the State, to encourage potential business and strong brand, develop business tourism small and especially families associated with the development of community tourism, rural tourism, regional and remote areas Needing a policy to take priority in supporting investment and links, mobilizing resources to focus on investment in capacity and quality of tourism service providers, forming a center of tourism caliber regional and international levels Developing the national resorts , urban tourism zones, routes, the local destinations of economic conditions - social 32 difficulties and the remote areas but potentially tourism development Implementation of sustainable development policies with incentives to develop eco-tourism, "green" tourism, community tourism, responsible tourism, encourage socialization, attracting both domestic and foreign resources countries in the field of tourism related Expanding international cooperation, linking Vietnam's tourism market with the regional and the world tourism market ; expanding relations, taking advantage of international support, enhancing integration and improving the image, status of Vietnam's tourism in the international arena CHAPTER CONCLUSIONS AND EXCHANGE 33 6.1 The contribution of research to science - Through the study of "green" FDI and the situation of Vietnam tourism , the paper analyzed and clarified the concept of " green" FDI as well as the relationship between FDI and developing "green" tourism in Vietnam - The paper provides and analyzes the framework and content of FDI associated with the goal of sustainable tourism development 6.2 Contributions to practice The paper shows that foreign direct investment in general and "green" investment in particular play a particularly important role in the sustainable development of tourism in many countries, including Vietnam Specifically, this paper has gone into analysis to conclude the following issues: - Development of "green" FDI is associated with the development of society and economy A special and the most critical feature is that "green" FDI is associated with environment At the same time, it is also the principle of sustainable growth - Vietnam is one of the countries in the region which is strongly influenced by global climate change: droughts, natural disasters, floods, The changes have a strong impact on the economy, including the FDI scheme depending heavily on the exploitation of resources, damaging the environment "Green" FDI will be safe for the business desiring to sustainable development in such harsh environmental conditions 34 - Environment and society are two essential elements and importance of FDI If Vietnam want to develop sustainable tourism, it must be tied to "green" investment - The paper use qualitative research, analyzing situations happened in Vietnam which will create an overview on the status of tourism in Vietnam, then draw conclusions of solutions to attract this important funding for Vietnam - Proposing some solutions to complement the defects of the existing policies, proposals and recommendations to promote "green" FDI attracted towards sustainable development goals of the "smokeless industry" Vietnam in the coming period 6.3 Limitations of the study Though having achieved some initial results, the paper still has some limitations, because this is the new thread I got some difficultes in finding data on the status of "green" FDI in Vietnam, as well as Vietnam tourism At the same time, this is also the opening theme, there are multiple solutions, because of insufficient knowledge to cover all the content that I only focus on the indepth analysis of a number of typical cases inVietnam based on the theory of "green" FDI without any more extensive survey to draw specific and more precise conclusions On the other hand, analyzing and assessing the impact of FDI on environmental issues have not been clarified owing to not using quantitative research based on primary data 35 6.4 The issues needing further study This is a new topic, but this is a hot one and it attracted a lot of attention from the media, as well as the leading experts in the field of economics Many economists have made analysis forecast In my opinion, the subject can be further continued researching in the following directions: i Assessing the impact of FDI on environmental projects in a province / city which has potential in tourism ii Forecasting "green" FDI prospects in the tourism sector iii Developing FDI in renewable energy sources for tourism development Above is my assessment of the need to attract "green" FDI to develop sustainable tourism in Vietnam I have found that foreign direct investment in general and "green" investment in particular play an indispensable role in the sustainable development of tourism in many countries, including Vietnam During the last 10 years, Vietnam has not stopped with the policies and laws aimed at improving the "green" investment in Vietnam , but not really radical I also put out a number of measures to promote and create "green" FDI for the sustainable development of tourism in Vietnam in the current stage and in the future In the 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BASIS OF ATTRACTING " GREEN " FDI INTO VIETNAM TOURISM CHAPTER : RESEARCH METHODOLOGY AND HYPOTHESIS CHAPTER 4: RESEARCH RESULT CHAPTER 5: SOME SOLUTIONS TO ATTRACT " GREEN " FDI INTO TOURISM OF VIETNAM. .. greenhouse gas emissions and global climate change 2.2 The necessity to attract “ green “ FDI into tourism of Vietnam 2.2.1.The importance of tourism to Vietnam economy In terms of economy, tourism. .. CHAPTER 2: SCIENTIFIC BASIS OF ATTRACTING " GREEN " FDI INTO VIETNAM TOURISM 12 2.1 Concepts related to "green" FDI In the present development stage of our country, the "green" economic is becoming