The maximum deposit rates of Vietnam travel agencies

The HCMC Tourism Association has continued to petition Vietnam National Administration of Tourism (VNAT) and the central bank to allow travel agencies to enjoy commercial term interest rates from deposits instead of the low rate for call deposits

Nguyen Thi Khanh, vice chairwoman of the HCMC Tourism Association, said that the organization would continue to send the petition to relevant agencies until they get a convincing reply.

Upon the confirmation of a deposit from the bank, VNAT will grant the Vietnam travel agency with the license.

travel agencies had risen to around VND200 billion as of earlier this year.

VNAT has suggested using profits from deposits on travel promotion activities but encountered objections from companies. These firms said that the right to decide on how to use profits belongs to them.

With non-term rates like now, each of such enterprises will annually lose dozens of millions of Vietnam dong as interest sums from deposits. The money is a lot for the companies, as most of them are small and medium-sized

Vietnam Travel Company, Vietnam Travel Agency

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