Massive shoes to fill in Phu Yen

Sama Dubai’s project - illustration photo

Nguyen Chi Hien, director of Phu Yen’s Department of Planning and Investment, told VIR: “There was news that the government would possibly scrap this project, but we are still waiting for a written decision from the government. If this is really the case, a strategy will be outlined to attract tourism and real estate projects to the area.”

Deputy Minister of Planning and Investment Cao Viet Sinh on the sidelines of the monthly governmental meeting last week told the local press that senior government officials had just gathered to discuss Sama Dubai’s project, given its protracted delay. “The possibility is Samai Dubai’s project will be abolished,” Sinh was quoted as saying.

Sama Dubai’s special economic zone project was first proposed in June 2008, covering 3,000 square kilometres or 60 per cent of Phu Yen’s total acreage. The investor proposed to rent the land for 210 years. Though Phu Yen already made land use zoning for this gigantic project, Sama Dubai has made no move to materialise its proposal.  

The leaders of Phu Yen People’s Committee recently  submitted a proposal to the government to consider suspending the project due to the cash-strapped investor’s prolonged delay.

Provincial authorities complained that many investors had showed interest in the province but they could not be welcome as a huge land area has been reserved for Sama Dubai.

Phu Yen authorities in 2008 presented investment certificates to three sub-projects inside the proposed special economic zone. Those are the $550 million Ganh Da Dia tourism complex project, the $300 million Tuy Hoa airport upgrading project and the $150 million expressway development linking Tuy Hoa airport to Ganh Da Dia tourism area. 

Hien said without Sama Dubai’s investment, these projects could still be implemented.

Phu Yen has been chosen for many ambitious projects. These include the  $1.7 billion Vung Ro oil refinery, the $1.68 billion Nam Tuy Hoa Creative City and the $4.3 billion Phu Yen tourism complex projects.

However, the feasibility of these projects is still questioned. The Phu Yen complex faces land clearance difficulties, while the Nam Tuy Hoa investors are in financial hot water.