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