HÀ NỘI — Vietravel Investment and Development Co Ltd, (Vietravel Invest), a member company of Vietravel Group, has completed dissolution procedures, the HCM City Department of Planning and Investment reported.

Vietravel decided to wind up Vietravel Invest in May 2023, during restructuring processes at the firm due to the impact of COVID-19 pandemic.

Vietravel Invest was established on January 3, 2019, one year before Việt Nam recorded its first COVID-19 case. The company located in HCM City, operating mainly in the field of real estate.

At that time, Vietravel Invest announced that it had no more debts to customers, tax authorities, social insurance or any other debts. It also did not carry out capital mobilisation, did not use labour and not have unpaid wages or allowances for employees and had no assets to liquidate.

In 2024, Vietravel announced it was to stop operating three representative offices in the three regions of the North, Central and Southwest, due to a lack of demand. Meanwhile, in December 2024, the company launched Viet India Travel Pvt Ltd in India, with an investment capital of US$51,000 to offer unique travel experiences for visitors from both countries. — VNS