Binh Dinh strives to revive long-delayed resort mega-project

July 05, 2021 | 19:12
Binh Dinh People’s Committee has taken steps to pave the way for the $250 million resort project backed by the US to resume pace after nearly two decades of delay.
Binh Dinh strives to revive long-delayed resort mega-project
Vinh Hoi hamlet where the Vinh Hoi resort mega-project is located

The Vinh Hoi resort project in Vinh Hoi Valley in Phu Cat district was approved by Binh Dinh People’s Committee in December 2007 with the initial scale of about 324 hectares. It consists of several components such as a hotel and resort complex, square, convention hall, golf course, public beach, and a nature reserve.

The project, developed by US-backed Viet My Hotel and Resort Co., Ltd., was originally divided into two phases that would be completed in 2014.

Albeit the project was conceived in 2002 and was greenlit for deployment in 2007, it ground to a halt in short order, with little to no developments until early this year.

The project’s delay has adversely impacted the life of locals. For example, those residing on the project site cannot repair or construct anything and have yet to be provided with other land plots for resettlement.

Early this year, Binh Dinh People’s Committee announced that the project would continue implementation this year.

According to Binh Dinh Economic Zones Management Authority (BEZA), the province had taken steps to take back the project since mid-2015, but as the project has foreign investor engagement, they were facing legal impediments.

It was not until May 2018 that BEZA decided to terminate the project’s operation. The project investor then filed a lawsuit against Binh Dinh’s management, forcing the province to deploy a suite of flexible measures to settle the dispute.

In January 2020, the investor made concessions and took back the claim.

Then in late 2020, VinaCapital, a leading investment management firm in Vietnam, entered the project as a major shareholder of Viet My Hotel and Resort Co., Ltd. to resurrect the project.

Early this year, Binh Dinh People’s Committee announced that the project would continue implementation this year.

Most recently in June, Binh Dinh People’s Committee Chairman Nguyen Phi Long had a talk with local residents and announced the as well as made public the project’s detailed 1:500 planning.

To carry out the project, authorised agencies need to relocate all 350 households (around 1,500 people) of Vinh Hoi hamlet.

The project area was adjusted to 230ha and its components will be built about 100m from the sea. The province has also engaged in building two resettlement areas for affected people.

Chairman Nguyen Phi Long noted that construction would take place at most two months after Binh Dinh People’s Committee hands over the clear space to the investor who have already made payment for resettlement, site clearance, and land rental.

By Huong Thuy

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