HOTEL DEVELOPMENT IN VIETNAM : PROBLEMS & PROSPECT

Abstract

Vietnam, situated in the dynamic growth region of Southeast Asia, has declared for economic reform since 19.86 and since then has captured investors attention. Is it able to achieve the objectives set since the reform and become the next "Asian Tiger" in the region? This study attempts to find an answer to this question. Since the reform, Singapore investors have actively participated in Vietnam's market reform, especially in the hotel and travel industry. What are the factors conducive to such development? How well is this industry performing? Who are the Singapore players in the market? These are some of the questions this study seeks to address. Despite the good prospects, hotel development, especially in a socialist transitional country, is full of difficulties. From the initial site selection to the operation stage, developers are faced with legal, social and technical problems. Hence, developers have to be constantly looking for solutions and the right approach in consideration of both the present and future country development. This is very vital for investors and has far-reaching implications. The study has provided some solutions which hopefully will assist developers in one way or another.