$4bn resort in central Vietnam begins construction

25.04.2016

The ceremony for the South Hoi An resort project took place in the morning and was co-organized by the People’s Committee of Quang Nam and Hoi An South Development Ltd.

With total investment of US$4 billion, the South Hoi An resort will cover an area of 900 hectares over the three communes of Duy Hai, Duy Nghia, and Binh Duong in the province.Scheduled for completion by 2035, the project will include a 5-star resort complex and casino, a playground, a personnel training center, and several other tourism components.The resort is co-invested by VinaCapital and Gold Yield Enterprises, and will be built in seven phases, the first consisting of an international standard 18-hole golf course, a 1,000-room resort designed as villas, a hotel, a shopping mall, and a foreigners-only casino, at a total cost of $500 million in an area of 163 hectares.The groundbreaking ceremony was attended by Prime Minister Nguyen Xuan Phuc and senior officials of the government.

“The government hopes that the scope of the project will correspond to the proposed total investment, in light of recent projects that failed to live up to their initial publicity. The investors have also transferred over $6 million to local authorities for site clearance and ancillary works,” the premier said at the ceremony.

The prime minister also noted an important mission of the investor is to train local laborers to switch from agriculture to the service industry.Authorities from Quang Nam Province were then requested to maintain a favorable business environment and to proceed with resettlement plans to hand over the site by an early date.

Source: Tuoi Tre News

Photo: Tuoi Tre News