In November, the accommodation and food services sector in Vietnam registered 4 new projects with US$5.5 million in newly registered capital, according to Vietnam’s Ministry of Planning and Investment. This marks a 100 percent increase compared to October, which recorded 2 new projects and US$1.5 million in newly registered capital.
Year-to-date (YTD), the sector has attracted a total of 36 new projects with US$101 million in newly registered capital, reflecting strong growth in this area.
The accommodation and food services sector has experienced a resurgence, driven by the increasing demand for hospitality and dining services, as well as the recovery of the tourism industry in Vietnam. This sector remains a key contributor to Vietnam’s service industry, particularly in tourist hubs and urban areas.
Key foreign firms in the accommodation and food services sector in Vietnam include global brands such as Marriott International, Accor, and McDonald’s, which have expanded their operations to cater to the growing consumer market.
The accommodation and food services sector in Vietnam is poised for continued growth, with strong prospects for further development as the economy stabilizes.
See also: How to Open a Hotel in Vietnam