Japanese investors keen on Saigontourist’s projects

Dozens of Japanese investors have shown keen interest in 12 tourism projects presented by Saigontourist Holding Company at a recent investment forum in Tokyo, said the company’s leader.
Nguyen Huu Tho, general director of Saigontourist, told the Daily that the projects were aimed to build big hotels, resorts and tourism complexes in HCMC and other provinces. The company wanted Japanese investors to contribute both investment and management skills to these projects.
Around 70 investors attended the forum and many of them showed strong interest in the projects, Tho said.
“Many investors stayed on after the forum to arrange appointments with us. We will meet some investors in Vietnam for further talks this month. Some others have made appointments for the next two or three months,” he said.
The company promoted the projects in the Tokyo forum named Tourism Real Estate Investment in Vietnam – A Promising Tourist Paradise. The forum was held by Saigontourist and Housing Development Real-Estate with the sponsorship of the HCMC government and the Vietnam Chamber of Commerce and Industry in collaboration with Japan External Trade Organization in HCMC.
Tho said Japanese investors also raised a lot of questions about investment opportunities in Vietnam.
“The investors were interested not only in Saigontourist’s projects but also in investment opportunities in Vietnam and HCMC,” he said.
Tho said that apart from looking for investors for big projects, Saigontourist also wanted to seek Japanese partners for its plan to buy hotels in Japan.
“We are still proactive on the overseas hotel acquisition plan and are looking for the good partners,” he said.
Saigontourist last year disclosed a plan to buy hotels in some foreign countries including the U.S., Japan, Germany and Russia. Tho said that the company was giving priority to the U.S. and Japan because of the big potentials in these markets.
The biggest tourism company currently has under its umbrella more than 100 travel companies, hotels, resorts, and other tourism facilities across the country. The company has the plan to add around 4,000 hotel rooms in the 2010-15 period.
Saigontourist has catered to over two million local and foreign guests last year, obtaining revenue of VND8.2 trillion (some US$420 million). The company expects the number of guests and revenue this year to increase by some 10%, and aims for US$1 billion in revenue in 2015.