Deposit requirement unchanged for travel firms

Operators of local tours still have to place a VND100 million deposit while the deposit requirement for firms organizing local, inbound and outbound tours is kept at VND500 million under the 2017 tourism law, which went into force this month.


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Foreign tourists stroll in downtown HCMC. Operators of local tours still have to place a VND100 million deposit while the deposit requirement for firms organizing local, inbound and outbound tours is kept at VND500 million



According to Nguyen Quy Phuong, head of the Travel Department under the Vietnam National Administration of Tourism (VNAT), the 2017 tourism law stipulates a VND100 million deposit for companies offering local tours, VND250 million for those offering inbound tours and VND500 million for those arranging outbound tours. However, since providers of outbound tours can offer local tours, companies with outbound and inbound tours do not need to make additional deposits for local tours, or those with a VND500 million deposit can cover three travel segments.

“Beside the deposits, travel companies have to meet other requirements but the new law does not impose higher deposits,” Phuong told a meeting on the law last Friday. 

Vietnam now has around 1,800 travel companies with outbound tour operating licenses, 80% of them active in local, outbound and inbound travel services.

As for companies licensed to offer international travel services before the 2017 tourism law came into force, they do not have to seek new licenses but they have to meet the new business requirements in 12 months.

As explained by VNAT deputy director general Nguyen Thi Thanh Huong, to obtain travel service licenses, investors were previously required to have three years’ experience. But now, they have to possess travel operating certificates and need 12 months to obtain them.

Vietnam welcomed 12.9 million international tourists and 73.2 million local tourists last year. Tourism revenue was estimated at VND510.9 trillion, or US$23 billion.

SGT

Deposit requirement unchanged for travel firms, travel news, Vietnam guide, Vietnam airlines, Vietnam tour, tour Vietnam, Hanoi, ho chi minh city, Saigon, travelling to Vietnam, Vietnam travelling, Vietnam travel, vn news
 
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