Nam Hoi An Integrated Resort to shift to 'urban resort'

Wednesday, Jun 02, 2021 07:15

Golf course is introduced at the Nam Hoi An Integrated Resort Project in Quang Nam Province. The province has agreed a proposal for development of a 'urban resort zone' in the near future. — VNS Photo Cong Thanh

Quang Nam Provine People’s Committee has agreed to a proposal to shift the Nam Hoi An Integrated Resort Project into an urban resort zone five years after the first phase of investment.

Chairman of the committee, Le Tri Thanh, told Viet Nam News that the province will submit the proposal to Prime Minister Pham Minh Chinh for approval.

Thanh said the project investor – Vinacapital and partners – will also allow for transferring some parts or the entire project in line with the law.

He said the project, which was given an investment licence in 2011, was a multi-function resort including a residential development plan, casino, resort, hotel and golf course on total 985ha in Duy Hai, Duy Nghia and Binh Duong communes of Duy Xuyen and Thang Binh districts.

“The urban resort proposal will be planned in line with the provincial master plan on urban zone development in Duy Hai and Duy Nghia, and in accordance with legal regulations on housing and property,” Thanh said.

“The transfer of some parts or the whole project will surely not change the project from the initial licence in terms of laws on investment, housing and real estate,” he said.

He added in the meeting with the project investor in April, the province agreed to soon approve the detailed plan for the second phase of the project.

Thanh said Vinacapital also asked the province to allowed delayed payment of land-use tax of the first phase while accelerating the approval process for developing housing items of the project and land-clearance activities in the meeting.

The Nam Hoi An Integrated Resort Project, with an investment of US$4 billion by Vinacapital and partners, launched the first phase investment in 2020, but it had some difficulties due to the outbreak of COVID-19.

The project will become Viet Nam’s second-largest casino resort after the Grand Ho Tram Strip resort and casino in the southern Ba Ria-Vung Tau Province.

An 18-hole golf course and a 1,000-room resort were built in the first stage of investment.

It’s expected the Nam Hoi An project would create 2,000 jobs for local people and annual revenue of VND100 billion ($4.4 million) in the first phase of investment.

The integrated resort project was designed as the first world luxury class entertainment and living centre in ideal connection with two world heritage sites of Hoi An, My Son Sanctuary and the world biosphere reserve Hoi An-Cham Island. — VNS

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