Hanoi (VNS/VNA) – Vietnam has missed some economic developmentopportunities and should not ignore the chance to grow the night-time economy,according to economist Tran Dinh Thien.

Thien was speaking at a night-time economy workshop with the focus on tourismand realty development in the southern province of Khanh Hoa last weekend.

“Vietnam is a bright spot in the midst of the COVID-19 pandemic. While theworld economy is dark, the local one is still bright and stable,” he said,adding “it is a very great opportunity for development.”

He said Vietnam has lost many economic development opportunities in the past,including for the night-time economy.

Thien said though some cities such as HCM City, Hanoi, and Da Nang hadnight-time economic activities, there is still no official mechanism to developmodern night urban activities.

Thien said some cities have been allowed to pilot mechanisms and policies fornight-time economic development.

“Khanh Hoa province should propose to develop the night-time economy early. NhaTrang needs to start first not only for Nha Trang but also to be the model fornearby areas like Ninh Thuan, Da Lat and Phu Yen," he said.

“It is necessary to discuss and clarify what should be done with a roadmap andsolution to deal with possible evil-doing at night too," Thien added.

The economist said enterprises have to shape the plans for the night-timeeconomy, adding that they need to make different products for night-timeactivities from daytime activities as consumer behaviour and demands aredifferent.

Also at the workshop, Professor Dang Hung Vo called for a separate legalframework to meet for night-time economic development, noting the legalproblems the condotel model had faced in Vietnam.

“As the law on real estate and land has not kept up with tourism reality, itdoes not create opportunities for tourism to develop," he said.

"The local night-time economy must be different from others the world tobe indigenous but above all, it must meet the highest needs of tourists. Vietnamneeds a framework of reasonable laws to develop otherwise opportunities will bemissed again."

Vo mentioned Thailand was a Buddhist country which did not support the sexindustry, but it had still developed in the country and boosted tourism.

Nguyen Van Dinh, vice chairman of the Vietnam Association of Realtors (VARS),said that to develop the night-time economy, there must be infrastructure andan administrative system to manage it.

According to statistics from VARS, there were 216 realty projects with tourisminfrastructure systems in 10 provinces, with 83,000 condotels and 30,000 villasand shophouses and 12,000 hotel rooms.

According to calculations, to develop the tourism economy by 2025, the tourismindustry will welcome 120 million domestic and 35 million internationaltourists.

Dinh said the number of rooms was not enough, adding: “It must also increasetwo or times to meet the Prime Minister’s plan decision by 2030 when Viet Namwill welcome 50 million international and 160 million domestic tourists.

Dinh said there were not enough types of complexes with many types of servicesor multi-function resorts in Vietnam.

“The night-time economy will meet the highest demand of tourists and increasethe need for prolonged spending and impression to return," he said./.