U.S., Vietnam Firms to Build US$4B Tourist Complex in Ba Ria-Vung Tau

10:21:58 AM | 7/1/2010

The U.S.-based Winvest Investment and Vietnamese enterprises will build a tourist complex worth US$4 billion in the southern province of Ba Ria-Vung Tau in the future.
The Provincial People’s Committee promised to allocate over 80 hectares of land to the investors during a working session between the two sides on December 30th, 2009.
The names of Vietnamese businesses joining the construction have not been made available at this time.
Covering an area of 295 hectares, the project will officially start in the first quarter of 2010.
Ba Ria – Vung Tau welcomed 7.55 million tourists and earned tourism revenues of VND1.5 trillion (US$81.2 million) in 2009. It targets to greet more than eight million tourists and earn revenues of VND1.78 trillion in 2010.
In 2009, the province licensed 154 tourism projects totaling US$13.38 billion. (www.qdnd.vn)