IFC invests in Thien Minh Group to promote sustainable tourism
09:11, 2014/05/07
Thien Minh Group, a Vietnamese leading private tour operator and hotelier, has just receive a financial investment from International Finance Corporation, a member of the World Bank Group, for expanding its tour business and developing hotel chain across Vietnam.

According to an announcement released by the International Finance Corporation (IFC) today, the financial institution will invest $14 million in Thien Minh Group, aiming to boost Vietnam’s tourism sector, contribute to its economic diversification and sustainable growth, and create jobs.

“This investment deepens our partnership with IFC,” said Tran Trong Kien, chief executive eoficer at Thien Minh Group.
“IFC financing and technical advice will help us build one of the most successful, sustainable travel companies in Asia as well as an important player in the hospitality industry in Indochina,” he added.
Established in 1994, Thien Minh Group has grown from a tour operator into a leading privately owned integrated travel group with three main tour companies, an on-line booking company, 11 three- and four-star hotels and a hotel management company. The group brings more than 90 thousand tourists to the Southeast Asia region and achieved over 200,000 visits to its own hotels annually.
It is the owner of the famous Victoria hotel chain in Vietnam and the Buffalo Tour. One of Thien Minh Group’s latest developments includes Hai Au Aviation, which will operate scenic flights in the Halong Bay area and schedule flights on seaplanes between Hanoi and Halong, starting from August 2014. This will be the first time seaplanes are introduced to Vietnam for tourism purposes.
In pursuit of a green and sustainable tourism business, Thien Minh Group has committed to applying IFC’s Excellence in Design for Greater Efficiencies Green Building Certification System in its new hotels with the aim of reducing energy, water, and material consumption by at least 20 per cent compared with similar buildings.
“We're excited to support Thien Minh Group as a company that has built itself from modest entrepreneurial beginnings to become the leading private sector player in Vietnam's fast growing tourism industry,” said Simon Andrews, IFC’s regional manager for Vietnam, Cambodia, Lao PDR, Myanmar and Thailand.
“Thien Minh Group is showing the way for other entrepreneurs and private sector companies in Vietnam and setting standards by adopting international best practice in governance, operations and sustainability,” said Andrews.
“IFC financing and technical advice will help us build one of the most successful, sustainable travel companies in Asia as well as an important player in the hospitality industry in Indochina,” he added.
Established in 1994, Thien Minh Group has grown from a tour operator into a leading privately owned integrated travel group with three main tour companies, an on-line booking company, 11 three- and four-star hotels and a hotel management company. The group brings more than 90 thousand tourists to the Southeast Asia region and achieved over 200,000 visits to its own hotels annually.
It is the owner of the famous Victoria hotel chain in Vietnam and the Buffalo Tour. One of Thien Minh Group’s latest developments includes Hai Au Aviation, which will operate scenic flights in the Halong Bay area and schedule flights on seaplanes between Hanoi and Halong, starting from August 2014. This will be the first time seaplanes are introduced to Vietnam for tourism purposes.
In pursuit of a green and sustainable tourism business, Thien Minh Group has committed to applying IFC’s Excellence in Design for Greater Efficiencies Green Building Certification System in its new hotels with the aim of reducing energy, water, and material consumption by at least 20 per cent compared with similar buildings.
“We're excited to support Thien Minh Group as a company that has built itself from modest entrepreneurial beginnings to become the leading private sector player in Vietnam's fast growing tourism industry,” said Simon Andrews, IFC’s regional manager for Vietnam, Cambodia, Lao PDR, Myanmar and Thailand.
“Thien Minh Group is showing the way for other entrepreneurs and private sector companies in Vietnam and setting standards by adopting international best practice in governance, operations and sustainability,” said Andrews.

12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.

18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.

16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.

10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.

17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.

21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
- Foreign companies confirm investment expansion in Vietnam in 2025
- PM invites Skoda to manufacture electric vehicles in Vietnam
- US Berggruen Holdings to help Vietnam set up investment funds
- Vietnam releases Esports White Book 2022-2023
- Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
- Better links with FDI firms to support Hanoi businesses