Overseas Vietnamese Interested in Southern Province
Southern Ba Ria-Vung Tau province is emerging as an attractive destination for foreign investors, including Overseas Vietnamese or Viet Kieu, especially in the areas of tourism, said a provincial official.
To date, Viet Kieu have poured more than US$5 billion into Ba Ria-Vung Tau province, accounting for a fourth of the province’s total FDI, according to Chairman of the provincial Department of Planning and Investment Le Kim Huong.
Huong said Viet Kieu’s the biggest project in the province is worth US$4.1 billion to build a multifunctional tourism and recreation named Saigon Atlantis Hotel by Winvest Investment Vietnam.
The project investor Peter Luu said “We select Vung Tau for its bright potentials in the tourism sector and we are in a hurry to prepare for capital to kick off the project early.”
Nguyen Thanh Phong, director of Lotus Resort disclosed his plans to raise the project capital to US$20 billion in the next three years.
Alexander Tran, director of Dai Dung Ltd. Co., said he will open a foreign language center in the province in 2009. The project aims to meet the increasing demand for learning languages in the province.
Ba Ria-Vung Tau has so far this year licensed 14 foreign-invested projects valued at US$5.7 billion in total, topping the country, Huong revealed. (Pioneer)
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