Local Investors to Build US$1-Bln Resort in Central Highlands
A group of local investors have just received approval from central highlands Lam Dong province to make a master plan on building a US$1 billion resort in Dalat city, the Saigon Times Daily reported May 27.
Vietnam Rubber Group, Vietnam National Textile and Garment Group (Vinatex), Vietnam Housing and Urban Development Group and others will jointly build the 5,000-hectare Dankia-Suoi Vang resort in Lac Duong District.
The investors aim to develop the project into a "resort city", some 20 kilometers from Dalat City to serve local and foreign tourists.
Separately, three Singapore companies and a local partner established a joint venture named Dalat-Dankia Holding Ltd. to develop the project worth US$706 million.
However, the joint venture failed to develop the project and was revoked the license by the Ministry of Planning and Investment in early 2005.
Lam Dong, 308 km from Ho Chi Minh City, has great potentials for tourism development with a convenient climate, together with splendid landscapes and cultural resources.
The number of visitors to the province is estimated to reach 700,000-800,000 per year, including 10 per cent foreigners. Hotels and guest houses see a capacity of 20,000 visitors per day. (Saigon Times Daily)
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