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Construction of $4 billion South Hoi An resort underway

Released at: 15:26, 25/04/2016

Construction of $4 billion South Hoi An resort underway

Casino resort project to be fully completed by 2035.

by Luong Nhi

Prime Minister Nguyen Xuan Phuc launched the $4 billion South Hoi An integrated casino resort in Quang Nam province on April 24.

He said it is a key project that will play an important role in the country’s development, contributing to economic restructuring and turning tourism into a key regional economic sector.

Authorities in Quang Nam were directed to provide favorable conditions for the investors and hand over land on time.

Located near Da Nang International Airport, the My Son Temple, Hoi An ancient town, and the Cu Lao Cham Nature Reserve, the project is expected to provide 2,000 jobs.

It includes resorts, luxury entertainment areas of five-star standard, cultural centers, commercial centers, shopping centers, villas and marinas.

Full completion is expected by 2035. On an area of 163 ha and total capital of $550 million, the first phase will be finished by the beginning of 2019.

The project is invested by a joint venture between the Vietnam-focused asset management company VinaCapital and Gold Yield Enterprises.

The Prime Minister added that the government is committed to maintaining stable socio-economic conditions for domestic and international investors regardless of economic sector.

Photo: VPG

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