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| Phan Thiet Golf Course will be converted into an urban area to better contribute to the provincial economy. — Photo rangdong.com.vn |
BINH THUAN (Biz Hub) — Prime Minister Nguyen Tan Dung recently approved the conversion of the Phan Thiet golf course into an urban area, as proposed by the central coastal Binh Thuan Province.
Accordingly, the PM asked the provincial People's Committee to ensure that the move benefits the government and the community, and guarantees efficiency in business and environmental issues.
In May 2014, the provincial committee asked for the conversion because the golf course has been losing money ever since it was launched in 1998.
The golf course's investor, the Rang Dong Group reported that they had spent a huge amount on different kinds of expenses, but earned very little profit. Only a few golfers visited the course.
Deputy Secretary of the province's Party Committee Nguyen Manh Hung said that the economic contribution of the course to the provincial budget was very little, and the land was being used inefficiently. He added that the conversion was necessary to cut the investors' losses.
On March 1, the Rang Dong Group's Chairman Nguyen Van Dong issued a notification about the company's decision to close the golf course and change its business strategy.
The golf course, located in Phan Thiet city's Phu Thuy and Thanh Hai districts, is part of the Ocean Dune Golf Club project, spread over an area of nearly 63 hectares. It was built in 1994 by American billionaire Larry Hillblom and was inaugurated in 1997. The project's investors changed several times before the Rang Dong Group took over in 2013.
Ten courses have been removed from the list of golf courses that come under the government's development plan until 2020, which kept 95 golf courses in the country. Courses on the removing list also include Sam Tang - Mai Châu in the northern Hoa Binh Province; Yên Lập in the northern Quang Ninh Province; and Nam A - Lang Co in the central province of Thua Thien - Hue; as well as the Golden Palm Resort Community in the southern Long An Province. — VNS