Last updated: 15:24 - December 12, 2006
Brunei firm to invest US $1.5 billion in Phu Yen http://www.nhandan.com.vn/english/travel/121206/travel_brunei.htm
The New City group from Brunei has decided to increase the investment capital for a tourist complex in the central coastal province of Phu Yen to US $1.55 billion from the previous US $500 million.
The announcement was made by Chen Li Hsun, a representative from the group at a working session between a high-level delegation of the Communist Party of Vietnam led by Truong Tan Sang, a Politburo member and investors, said Nguyen Chi Hien, director of Phu Yen provincial Planning and Investment Department to Nhan Dan Online.
The complex will be built on area of 465 hectares, located in the seashore and some islands of Tuy An district and Tuy Hoa city.
The project includes a five-star hotel due to be built on the sea, a convalescent and healthcare resort, a golf course and a casino. The increase of the investment capital is also aimed at expanding and upgrading Tuy Hoa airport in order to take tourists from Ho Chi Minh City and Hanoi to Phu Yen by air.
Modern cruise ships will also be bought to take tourists along the seashore. The project has been supported by many ministries and sectors and is being submitted to Prime Minister for approval.
Mr Hien said Mr Truong Tan Sang asked Deputy Prime Minister Nguyen Sinh Hung to consider the project.
The construction of the project will be carried out at once after getting approval from the Prime Minister, said Nguyen Chi Hien. He added that the first phase of the project is expected to be completed in three years.
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