The Ministry of Culture, Sports and Tourism is drafting a National Assembly resolution on special mechanisms and policies to develop tourism into a key economic sector, as outlined in Resolution 26-NQ/TW of the Politburo on developing Vietnam tourism into a spearhead economic sector in the new era.
Under the proposed policies, projects operating under new tourism business models would receive a reduction of at least 50% in land rental payments during their first three years. Corporate income tax would also be exempted for two years, followed by a 50% reduction in tax payable for the next three years on income generated from products created under these new tourism models.
In addition, personal income tax would be exempted for two years and reduced by 50% for the following three years on salaries and wages earned by experts and households from products generated by new tourism business models.
The proposed measures aim to strengthen tourism growth by 2030, with a focus on developing three major tourism growth poles – Hanoi, Ho Chi Minh City and Da Nang – alongside 10 key tourism centres and 20 national tourism areas. By 2030, Vietnam aims to have around 1.5 million accommodation rooms, while the tourism sector is expected to create approximately 2.3 million direct jobs and 3.5 million indirect jobs.
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