Solutions to mobilize investment capital to develop tourism economy in Ba Ria - Vung Tau province until 2020

MINISTRY OF EDUCATION AND TRAINING

HANOI UNIVERSITY OF SCIENCE AND TECHNOLOGY

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NGO MINH HOANG

SOLUTIONS TO MOBILIZING INVESTMENT CAPITAL TO DEVELOP THE TOURISM ECONOMY OF BA RIA - VUNG TAU PROVINCE BY 2020

MASTER'S THESIS IN ENGINEERING: BUSINESS ADMINISTRATION

SCIENCE GUIDE

Dr. VU QUANG

Hanoi – 2014

COMMITMENT

I hereby certify that my master's thesis " Solutions to mobilize investment capital to develop tourism economy in Ba Ria - Vung Tau province to 2020 " is the result of my independent study and scientific research.

I hereby certify that the data in the thesis are honest, have clear origins, are cited and inherited, developed from documents, magazines, published research works, websites, ...

I hereby certify that the solutions presented in the thesis are drawn from theoretical basis and practical research process.

Hanoi, date month year 2014

Students

Ngo Minh Hoang

Maybe you are interested!

The topic " Solutions to mobilize investment capital to develop tourism economy in Ba Ria - Vung Tau province until 2020 " is the content I chose to research and write my graduation thesis after two years of studying the master's program in Business Administration at Hanoi University of Science and Technology.

To complete the research and completion of this thesis, first of all, I would like to sincerely thank Professor Dr. Vu Quang of the Institute of Economics and Management.

- Hanoi University of Science and Technology. He directly instructed and guided me throughout the research process to complete this thesis. In addition, I would like to sincerely thank the teachers in the Institute of Economics and Management for contributing valuable comments to the thesis.

On this occasion, I would also like to thank the Graduate Training Institute, the Institute of Economics and Management - Hanoi University of Science and Technology, the leaders and colleagues working at the Tourism Promotion Center of Ba Ria - Vung Tau Province for creating conditions and time for me during the research process.

Finally, I would like to thank my relatives and friends who have always been by my side, encouraging me to complete this course and thesis.

Best regards.

Author

Ngo Minh Hoang

ACKNOWLEDGEMENT ACKNOWLEDGEMENT

LIST OF TABLES, FIGURES, CHARTS

INTRODUCTION 1

1, Urgency of the topic 1

2, Research purpose 2

3. Research object and scope 2

4, Research method 2

5. Scientific and practical significance of topic 2

6, Structure of the thesis 3

CHAPTER 1: THEORETICAL BASIS OF INVESTMENT CAPITAL MOBILIZATION FOR TOURISM ECONOMIC DEVELOPMENT 4

1, Overview of Investment and Capital Raising 4

1.1. Concept of investment and investment capital 4

1.1.1 Investment 4

1.1.2 Investment capital 6

1.1.3 Investment classification 6

1.1.3.1 According to investment characteristics 6

1.1.3.2 According to the nature of investment capital use 7

1.1.3.3 By investment industry 8

2. Mobilizing investment capital to develop tourism 15

2.1 Perspectives on sustainable tourism development 15

2.2 Investment in tourism development: 16

2.2.1 Contents of tourism development investment: 16

2.2.2 Impacts of tourism development investment on socio-economy: 17

2.2.3 Characteristics of Tourism: 18

2.2.4 The role of tourism in the socio-economic development of a country:..19

2.2.5 Basic theoretical issues on tourism exploitation: 20

2.2.5.1 Concept of “Tourism Exploitation”: 20

2.2.5.2 The role of tourism exploitation in the development of the tourism industry in general: 21

3. Factors affecting capital mobilization for tourism development...21

3.1 Basic theoretical issues on tourism: 21

3.2 Factors affecting capital mobilization for tourism development in Ba Ria - Vung Tau province 27

3.2.1 Strengths 27

3.2.2 Weaknesses 27

3.2.3 Opportunity 28

3.2.4 Challenge 28

4, Evaluation criteria, comments 29

4.1 Criteria for evaluating investment and investment capital for tourism development: 29

4.1.1 Evaluation criteria for investment capital in tourism development: 29

4.1.2 Evaluation criteria for capital mobilization for tourism development: 32

5, Domestic and foreign experience 33

5.1 Experience of some domestic regions in investing in tourism economic development: 34

5.2 Experience of some foreign regions in investing in tourism economic development: 36

CHAPTER 1 CONCLUSION 40

CHAPTER 2: CURRENT STATUS OF CAPITAL MOBILIZATION FOR TOURISM DEVELOPMENT IN BA RIA - VUNG TAU PROVINCE. 41

2.1, Overview of Ba Ria - Vung Tau. 41

2.1.1 Overview of the formation of tourist areas according to the geographical terrain of Ba Ria - Vung Tau province. 41

2.1.1.1 History of the formation of Ba Ria - Vung Tau province. 41

2.1.1.2 Geographical location of Ba Ria - Vung Tau province 43

2.1.1.3 Area and population of Ba Ria - Vung Tau province. 43

2.1.1.4 Weather and climate of Ba Ria - Vung Tau province. 44

2.1.1.5 Formation of tourist areas according to geographical terrain in Ba Ria - Vung Tau province. 44

2.1.2 Tourism development policy and the impact of tourism on the economy of Ba Ria - Vung Tau province. 52

2.1.2.1 Tourism development policy of Ba Ria - Vung Tau province: 52

2.1.2.2 Impact of tourism on the economy of Ba Ria - Vung Tau: 55

2.2, Overview of investment and investment capital for tourism industry in Ba Ria - Vung Tau 58

2.3, Content of capital mobilization for investment 61

2.3.1 Investment capital for tourism development: 61

2.3.2 The role of investment capital in economic growth and development 63

2.3.2.1 The role of investment capital in tourism development 64

2.3.2.1.1 Tourism infrastructure development 65

2.3.2.1.2 Exploiting potential well, shifting economic structure, protecting environmental landscape, developing sustainable tourism economy. 65

2.3.2.1.3 Increase GNP for the economy 65

2.3.3 Investment capital mobilization tools 66

2.3.3.1 Tools of financial and monetary policy 66

2.3.3.2 Financial markets and financial market instruments 68

2.3.3.3. Macro-financial tools supporting the capital mobilization process 69

2.2.4 Current status of tourism development in Ba Ria - Vung Tau province. 70

2.5, General assessment of the current status of tourism development in Ba Ria - Vung Tau province.

.......................................................................................................................................... 74

2.5.1 Achievements: 74

2.5.2 Limitations 76

2.5.3 Limitation causes 76

CHAPTER 3: CAPITAL MOBILIZATION SOLUTIONS TO DEVELOP TOURISM ECONOMY IN BA RIA - VUNG TAU PROVINCE BY 2020 78

3.1, Solutions to mobilize investment capital to develop tourism by 2020 in Ba Ria - Vung Tau in a sustainable direction 78

3.2, Some recommendations to develop Ba Ria - Vung Tau tourist areas by 2020 79

CHAPTER 3 CONCLUSION 83

LIST OF REFERENCES 84

LIST OF TABLES, FIGURES, CHARTS

Figure 2.1.1.5.1 Administrative map of Ba Ria - Vung Tau province

Chart 2.2.1.1-1: Number of other arrivals to Ba Ria - Vung Tau Province over the years (Million arrivals)

Chart 2.2.1.1-2: Tourism revenue of the Province over the years (Thousands of billions) Chart 2.1.2.2-1: Economic structure of Ba Ria-Vung Tau Province in 2012

Chart 2.1.2.2-2: Expected economic structure of Ba Ria-Vung Tau Province in 2015 Chart 2.2.1.2-3: Expected human resources needed in 2015

Table 2.2.2.1 Summary table of tourism performance results of Ba Ria Vung Tau province in the period 2011-2013

Table 2.2.4.1 Summary table of investment and investment capital for tourism industry in BRVT 2011-2014