Over 1.7 billion USD in foreign direct investment (FDI) from 41 different projects in 2007 were attracted by the tourism sector of Vietnam, according to the Vietnam National Administration of Tourism as the Vietnam News Agency reported.

The total number of FDI projects in tourism over the past decade reached 229 with a total capital of more than six billion USD.

Golf courses, luxurious resorts and hotels were the main establishments during the last years that foreigners invested their money in order to tap the country’s tourism potential.

Projects of note include a 200 million USD resort and hotel complex in central Da Nang city invested by the US-based KOK corporation and a 68 million USD convalescence centre on Phu Quoc island.

Noteworthy in particular is the Banyan Tree Corporation from Singapore, which is currently waiting for license to build an eco-tourism site in the Chan May-Lang Co economic zone in the central province of Thua Thien-Hue at an estimated cost of nearly one billion USD.

According to the Viet Nam National Administration of Tourism, this source of capital has played a key role in helping the tourism sector improve services quality and diversify products so as to meet the increasing demands from tourists.