Flamingo Group and Viet Nam Bank for Industry and Trade (VietinBank)’s Phuc Yen branch has signed an investment contract for Flamingo Cat Ba Beach Resort project.

Under the agreement, VietinBank is the only official investor to provide capital and financial products for Flamingo Cat Ba Beach Resort, with a total credit of VND1.5 trillion (US$66 million).

Le Thi Van Anh, vice director of Flamingo Group, said the combination of experience and capacity of the Flamingo Group and financial strength of VietinBank promised to bring success for the Flamingo Cat Ba Beach Resort complex in future. She said the agreement was a premise to build and develop many works with international standards.

Nguyen Van Truong, director of Vietinbank Phuc Yen, emphasised that the signing between the bank and the Flamingo Group show their desire to further develop the relationship between the two sides, which is evidenced by formal co-operation agreements to implement projects in future.

Located on a 7.8ha area, Flamingo Cat Ba Beach Resort owns 756 villas and has a total investment of VND3 trillion.

The project is scheduled to be completed by the end of 2019. — VNS