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Quy Nhon Beach Resort gets green light

Released at: 08:37, 20/12/2016

Quy Nhon Beach Resort gets green light

Photos: Duc Anh/The Guide/Illustration

Joint venture to develop four-star beach resort with investment of $52 million.

by Hong Nhung

The Binh Dinh Economic Zone Administration (BEZA) has recently granted an investment license to a joint venture between two Canadian and one Vietnamese companies for the four-star MAIA Quy Nhon Beach Resort project in south-central Binh Dinh province.

“All preparatory work and legal procedures for the project will be completed before the middle of next year,” Mr. Nguyen Bay, Director of the Investment Promotion Center under the provincial Department of Planning and Investment (DPI), told VET.

The joint venture consists of Canada’s Transwood Investments Limited and VCCF Limited and Tam Khang Binh Dinh Limited from Vietnam, with Transwood Investments holding a controlling stake of 80 per cent and VCCF and Tam Khang Binh Dinh 10 per cent.

Developed in Zone 1 of the Nhon Ly - Cat Tien tourism area at the Nhon Hoi Economic Zone, the project covers an area of about 34 ha, including 28.88 ha of land and 5.27 ha of sea area, and has total investment of around $52 million and a lifespan of 50 years.

The investors will focus on building a four-star luxury resort with 755 rooms and the project is a combination of various types of tourism and services, such as building and doing business in tourism areas, accommodation, resorts, hotels, restaurants, and other supporting services, travel services, meeting and conference organization, transport services for travelers, entertainment and sports services, and beaches.

Along with the five-star resort invested by the FLC Group in the provincial capital of Quy Nhon, MAIA Quy Nhon Beach Resort is expected to contribute to developing tourism into an important economic sector in Binh Dinh.

At the end of July the FLC Group held an opening ceremony for its five-star beach and golf resort complex covering an area of 1,300 ha and including a 36-hole golf course, a 1,500-room luxury resort, a marine eco-tourism area, a luxury hotel, a zoo and a 1,500-seat international convention center.

The province hopes these projects will boost the local tourism industry and create thousands of jobs, contributing to local socioeconomic development in the years to come.

Binh Dinh has an area of 6,039 sq km and a population of 1.51 million. Registered foreign-direct investment (FDI) stood at $1.7 billion in 59 projects as at the end 2015, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI).

The Nhon Hoi Economic Zone is located on Phuong Mai peninsula on an area of about 12,000 ha. It has a favorable investment environment and advantages in natural conditions and geographic location.

Other investments in the economic zone include the Nhon Hoi new urban area, with capital of $700 million, the Thi Nai Lagoon eco-tourism area with capital of $400 million, and the Nhon Hoi integrated port with capital of $300 million.

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