Cong Ty Co Phan Du Lich Tinh Ba Ria-Vung Tau (Vietnam)

Vungtau Tourist is a state-owned company located in Vung Tau, Vietnam. It was established on April 10, 1996, based on the decision of the People's Committee of Ba Ria-Vung Tau Province. The company was formed by renaming the Tourism and Economic Development Company of Vung Tau and resolving the issues left by the dissolution of the Vung Tau-Con Dao Special Tourism Company in 1991. On June 26, 1996, the People's Committee of Ba Ria-Vung Tau Province merged the Long Hai Tourism Company into Vungtau Tourist. Since its establishment, Vungtau Tourist has faced challenges due to the financial issues and debts inherited from previous struggling companies. The company's leadership has implemented various strategies to address these challenges, including capital mobilization through employee contributions, external organizations and individuals, bank loans, and budget support. Despite facing difficulties, Vungtau Tourist has established itself in the market. The company is known for its brands such as VTTEX for export goods, VTTOUR for travel services, and OCEAN PARK for beach services. Ocean Park, located in Vung Tau, has become a popular destination for tourists, serving around 500,000 visitors annually. Vungtau Tourist has also invested in various projects to diversify its local tourism products. Some notable projects include Ky Van Tourist Area, Binh Chau Hot Spring Resort, Sammy Hotel, Greyhound Racing Entertainment Program, Thuy Van Hotel, Vung Tau Rehabilitation and Tourism Area, and Hoang De Vung Tau Hotel Complex. As part of the province's plan to privatize state-owned enterprises, Vungtau Tourist is also included in the privatization process. On December 28, 2005, the People's Committee of Ba Ria-Vung Tau Province approved the plan to transform Vungtau Tourist into a joint-stock company with a charter capital of 200 billion VND. The company's shares are divided among the state (61.6%), employees (1.9%), strategic investors (7.7%), and public auction (28.7%). Vungtau Tourist successfully completed its privatization process on June 29, 2006, attracting reputable investors such as Cho Lon Tourist Company, Viet A Commercial Joint Stock Bank, Lac Hong Information Technology Joint Stock Company, and VinaCapital Investment Management Company. The involvement of experienced investors is expected to help Vungtau Tourist undertake large-scale projects and expand beyond the province. Following the privatization plan, Vungtau Tourist held its first shareholders' meeting in September 2006 and officially started its operations on January 5, 2007.