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IFC invests $14m in Thien Minh

Update: May, 08/2014 - 08:56
Thien Minh travel offers tourists with rock climbing on The Face Mountian in northern Ha Long Bay.— Photo

HA NOI (VNS)  — IFC, a member of the World Bank Group, announced on May 5 that it is financing the expansion of the Thien Minh Group's hospitality business with US$14 million equity investment.

According to IFC, the financing will help the company realise its long-term strategic plan of expanding its tour operating business, developing its hotel chains across Viet Nam and boosting the local tourism sector, all of which will contribute to economic diversification, sustainable growth and jobs creation.

Established in 1994, the Thien Minh Group has grown from a tour operator into a leading privately owned integrated travel group with three main tour companies, an online booking company, 11 three- and four-star hotels and a hotel management company. — VNS

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