STRATEGIES AND CHALLENGES IN ATTRACTING FDI TO THE TOURISM INDUSTRY IN TUYEN QUANG AND BINH PHUOC PROVINCES, VIETNAM

Abstract

The tourism industry plays a significant role in the economic development of Vietnam, and the
demand for investment capital for tourism is high. While internal capital is limited, attracting external
investment is essential, and foreign direct investment (FDI) plays a critical role in this regard. However, Tuyen
Quang and Binh Phuoc provinces have not yet attracted substantial FDI in their tourism industry. This
document aims to analyze and evaluate the current situation and provide reasonable solutions to increase FDI
attraction in their tourism industry. The theoretical framework provides an understanding of FDI and identifies
the factors that promote foreign direct investment. The document examines the current state of the tourism
industry in Tuyen Quang and Binh Phuoc provinces, identifying the strengths and limitations of each province.
Solutions provided for attracting FDI into the tourism industry of both provinces include building an open
investment environment, reforming administrative procedures, and creating attractive investment policies. The
document concludes by highlighting key legal-administrative issues and encouraging both provinces to
cooperate with investors interested in their potential and advantages.