Nguyen Van Dung, deputy head inspector of the ministry, said the inspection team would focus on certain issues such as the State management over resort and tourism property projects in the 2001-2010 period.
Land recovery, site clearance, compensation, resettlement and project progress would also be taken into account, along with environment issues and investors’ liability to their laborers and the government, he said.
Among those, Dung stated “project progress is the most important with change of land use purpose as the second.” In case a project is discovered violating the laws, it would be halted and possibly revoked.
At the working session, Vice Chairman Phung Tan Viet of Danang City assigned the city’s Department of Planning and Investment to work with the inspection team. The department will choose and inspect some typical projects from the current 46 projects in the city within 30 days.
As of June 2010, there were 46 licensed investment projects on resort and tourism property in Danang with the total investment capital of VND72.5 trillion, or US$3.5 billion. Among those, 26 projects are of local investors, worth some VND28.4 trillion, and 20 others are of foreign investors, worth VND44.1 trillion and US$27 million in total.
Six of these projects are under progress while 15 other projects have been delayed.
* Thai company Irving Seminar & Training and its local partner Lean Media Group said they would organize Vietnam Tourism Property Management 2011 Seminar at the Legend Saigon hotel in HCMC on September 15.
According to the organizing board, some 100 representatives of companies managing hotels, resorts and serviced apartments as well as consulting and design companies are expected to attend the event.
The organizing board said that the seminar will dig deep into the aspects of tourism property management, clarify problems and challenges to face, map out solutions, and survey new trends in the coming time so as to bring about effective applications to increase project value.
Apart from providing a deeper insight into Vietnam’s tourism property, the seminar is also expected to help investors and project owners fully understand their role in managing the projects and analyze reality as well as negotiation methods in management contracts.
Market observers assumed that the strong development of tourism property market over the past years has captured the attention of dozens of local as well as overseas investors and Danang is among places with quite strong development in this form of property.
Though the potential for markets was still high compared to other regional countries, the competition has become increasingly tougher when supply was abundant while customers’ criteria for choosing products were stricter, exposing challenges to investors.
Therefore, Vietnam Tourism Property Management 2011 Seminar is an opportunity for the participants to discuss and tune into the market trends of Vietnam tourism property market, and survey and set up relations with their partners.
By Thanh Hai and Dinh Dung - The Saigon Times DailyBusiness & Investment Opportunities
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