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FLC Do Son to get underway in Hai Phong

Released at: 20:55, 20/09/2016

FLC Do Son to get underway in Hai Phong

MoU signed between city and FLC Group over construction of the the FLC Do Son complex.

by Hung Nguyen

The FLC Group and the Hai Phong People’s Committee have signed a Memorandum of Understanding (MoU) over the construction of the FLC Do Son complex, which includes a golf course, a resort, villas and high class entertainment areas on a total area of 500 ha with VND5.3 trillion ($237.44 million) in investment.  

The MoU was signed at the Conference on Investment Promotion held on September 19 in the northern port city.

“The FLC Do Son Complex is not only evidence of the attractiveness of Hai Phong but is also the result of the various investment support policies offered by the city,” said Ms. Huong Tran Kieu Dung, CEO of the FLC Group. “These support policies create favorable conditions for all investors and help FLC to implement the project. FLC has committed to focus its resources and quickly bring the project into being to contribute to Hai Phong’s socioeconomic development.”

FLC Do Son is the sixth complex project to be implemented by FLC, joining FLC Sam Son in north-central Thanh Hoa province, FLC Quy Nhon in south central Binh Dinh province, FLC Vinh Phuc in northern Vinh Phuc province, FLC Quang Binh in central Quang Binh province, and FLC Ha Long in northern Quang Ninh province.

The Group projects are built quickly, sometimes within a year, with the golf course in Binh Dinh being built in just five months.

According to FLC’s latest financial report, it had total assets of VND10.87 trillion ($486.97 million) as at the end of the first half of this year, an increase of 24 per cent against January 1. After-tax profit also rose significantly, by 45 per cent to VND594 billion ($26.61 million).

The Hai Phong People’s Committee also presented licenses to four foreign investors in high-tech sectors at the conference and 27 MoUs were signed between the People’s Committee and investors.

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