Sun shines on Cam Ranh

Cam Ranh sets its sights on being the next Nha Trang

Local officials last week said two of the five foreign firms vying for the evaluation contract had qualified for the second round, with provincial authorities expected to announce the finalist this week.
The contractor would fine-tune the masterplan for the Cam Ranh area, which was designed by the Institute for Urban Planning in Rural Areas, and approved by local authorities in early 2004.
The plan proposed 1,590 hectares of land be earmarked for hotel and residential development. The institute estimated the cost to develop the entire area into a top-class tourism and residential complex at more than $3 billion.
Nguyen Thi Thu Hang, deputy chairwoman of Khanh Hoa People’s Committee, said 54 investors have reached agreements with local authorities to build high-quality hotels and resorts in Cam Ranh, but will have to wait until the reappraisal is finished before starting construction.
“We are not satisfied with the approved plan; therefore, we decided to hire foreign planners to review it,” said Hang.
The deputy chairwoman added the province had set criteria for investors who want to build hotels in Cam Ranh. Accordingly, each project should be built on at least 10 hectares and investment cost per hectare be about $1 million.
“We want to develop Cam Ranh into a high-end tourism complex,” said Hang.
Khanh Hoa authorities want to make Cam Ranh, home to a naval base previously leased to Russia, into a large tourism and financial area, presenting an alternative destination to crowded Nha Trang. Cam Ranh airport started to receive commercial flights mid last year and can accommodate bigger aircraft such as the Airbus, after it replaced a smaller airport in Nha Trang. Vietnam Airlines currently flies daily from Hanoi and Ho Chi Minh City to Cam Ranh.
Developers are hoping to capitalise on the area’s relatively unspoiled beaches and nearby airport to build hotels and resorts; however, none have got off the ground yet and there are no medium-sized hotels in the area at present.
Most of the proposed projects are still at feasibility study stage. Electricity of Vietnam last week claimed it would develop a $17-million hotel, while shipbuilder Vinashin planned to team up with Habubank to build a $12.7-million resort.
Vinashin said it was also pondering building a marina for yachts, as well as a large port for cruises.