Vantone International Gets Green Light to Compete in Taiwan's Tourism and Leisure Industry

NEW YORK, April 27, 2011 /PRNewswire/ -- Vantone International Development Co. Ltd., a wholly-owned subsidiary of Vantone Capital Pte. Ltd. in Singapore, announced today that it obtained approval from Taipei City Government to develop in the travel, leisure and tourism sectors in Taiwan, targeting high-end global consumers.  

"Our investment will instill new energy into Taiwan's tourism and leisure industry," said Aloysius Wee Meng Seng, Vantone Capital board of director. "We are confident that our brand will bring clients from China, North American, Japan, Korea and Southeast Asia and make Taiwan an international leisure and tourism destination." He said his business is set to create more job opportunities in Taiwan and stimulate economic development.

Vantone International, the Taipei arm of Vantone Capital, plans to bring in market experience by its investors from Singapore, a tourism destination in Asia, and new clientele by its investors from mainland China. Vantone Capital Pte. Ltd. is a Singapore-based joint venture established by international shareholders.  

The new Taipei venture expects to capitalize on the tourism and leisure industry in Taiwan which has been experiencing steady growth in recent years. Mainland Chinese tourists, in particular, have boosted the industry in recent years. Taiwan has been a popular destination since 2008, when Taiwan first opened its market to China. According to statistics by Taiwan government, there have been 1.82 million visits by Chinese tourists since July 2008. The total amount of business generated by Mainland Chinese tourists is estimated at US$3.15 billion.

Tourism is set to increase in late 2011, driven by Taiwan's expected relaxation of its visa rules on individual tourists from China. International developers have been eyeing the new market prospect.

By bringing in high-end consumers from not just Mainland China, but also Singapore, North America, Japan and Korea to Taiwan's leisure market, Vantone International expects to boost the fast-growing tourism and leisure industry.  Such international interest vested in the tourism and leisure industry in Taiwan will not only help enhancing the area's global competiveness in the sector, but also spur new service products, which in turn will attract new consumers globally. With its track record of investment and development projects, Vantone International expects to create new job opportunities and stimulate the overall economy in Taiwan.  Such influx is set to reshape the industry in Taiwan.

Contact: Yan Tai (212) 376-0338, [email protected]

SOURCE Vantone Capital Pte. Ltd.