Economic development in the city has been stable, despite the global financial crisis. In 2004-08, the annual average growth rate was 15.64 per cent per year.

The tourism sector in the city is so buoyant that demand for accommodation outstrips supply. Up to the end of 2008, the city had just 154 hotels and 21 entertainment and tourism centres. There is no five-star hotel in the city.

The local authority is making efforts to attract investors. During 2006-18, city authorities plan to implement 18 tourism projects.

However, the city lacks transport infrastructure, according to Vu, who has to regularly travel from Can Tho to Tan Son Nhat Airport in HCM City.

To travel by road the 200km journey takes six hours. "The lack of transport infrastructure is discouraging investors," Vu said.

Potential investors agree that the city needs investment in infrastructure, which includes Can Tho, Tra Noc and Cai Cui ports.

In addition, they said the city needed to appeal more to the high-end tourists, as other cities have done. — VNS