Prime Minister blesses large scale projects in Quang Nam

Prime Minister Nguyen Xuan Phuc

The PM said that once both projects came into operation, they will play an important role in the country’s general economic development and contribute to restructuring the province’s economy. Especially, the South Hoi An project will help elevate the tourism sector as the province’s key economic sector.

Phuc asked the resort’s developers to concentrate resources to complete the construction on schedule, while simultaneously taking note to protect the environment. In addition, the PM requested the province to provide preferential conditions for investors during the construction process and take care of resettling residents.

The South Hoi An integrated casino resort, invested by a joint venture of Vietnam-based asset management firm VinaCapital, Macau-based SunCity Group, and Gold Yield Enterprises Limited, a subsidiary of Hong Kong-based Chow Tai Fook Enterprises Ltd.

The project’s construction is divided into several phases and was expected to be completed in 2035. Phase 1’s construction will be implemented on an area of 160 hectares, with the total capital of $500 million, and is expected to reach completion in the first quarter of 2019.

Once the resort comes into operation, it will be the second largest casino in Vietnam after the Ho Tram Strip casino and golf resort complex located in the southern province of Ba Ria-Vung Tau. Besides, the PM has recently approved the addition of a golf course to the South Hoi An resort, as part of the national golf course development plan by 2020.

Regarding the expanded automobile IP, Vietnamese car manufacturer Truong Hai Auto Corporation (Thaco) will pour VND749 billion ($33.6 million) in the 210-hectare project, which will include a Mazda manufacturing and assembling facility, with a capacity of 100,000 vehicles per year, a bus manufacturing factory with a capacity of 5,000 units per year, and a mini bus manufacturing factory with an annual capacity of 10,000 units.

The management authority of Chu Lai Open Economic Zone (EZ) is currently concentrating on constructing resettlement areas, roads, as well as other infrastructure items within the zone. In addition, the authority is dredging Ky Ha port to provide 20,000DWT ships access to the automobile IP.

RELATED CONTENTS:
	Construction of expanded automobile industrial park to kick off in late April
	$4 billion South Hoi An casino resort to kick off in late April
	VinaCapital claims $4b casino project near realisation