Vinaconex-ITC Invests US$100M into Cat Ba Ecological Project
Vinaconex Investment and Tourism Joint Stock Company (Vinaconex-ITC) has invested US$100 million to build infrastructure for Cai Gia-Cat Ba Urban and Tourism Zone in the northern province of Haiphong.
The 171.5-hectare project, which comprises of three to five-star hotels, resorts, villas, sports and entertainment complex, an international conference center and a riverside trade center, will have a total investment of US$600 million.
The project is scheduled to be completed by 2010 and expected to receive more foreign tourists.
Vietnam is estimated to have welcomed 992,000 foreign tourists in the first quarter of this year, down 16 per cent from a year earlier, according to the General Statistics Office (GSO). (Pioneer)
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