The Saigon Tourist Corporation (Saigontourist) has earned a net profit of US$41.9 million and contributed US$19.3 million to the State budget following the reception of more than 693,000 visitors, including more than 350,000 foreigners, in the first half of this year.

To welcome another 1.5 million tourists, the company is making efforts to expand the REX Hotel and turn the Grand and Majestic Hotels into five-star ones by 2007.

Besides, Saigontourist is accelerating the construction of the Hung Kings Monument, the People's Historical and Cultural Park, the Sai Gon-Da Lat Hotel and the Sai Gon-Con Dao tourism site. Some other hotels and a resort are expected to be in operation next month. It is cooperating with the Malaysian Taylor College to conduct a five-month training course for its 30 hotel managers.

In the 2006-2010 period, the company will focus on marketing promotions, service quality improvements and human resources development.