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Main Home Vietnam Guides Vietnam News Vietnam firms plan $68 mln resort in southern island
| Vietnam firms plan $68 mln resort in southern island |
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 A Vietnamese consortium signed a deal Wednesday to build a US$68 million luxury resort in Phu Quoc island.
Bo Bien Dai (Long Beach) Ltd. Company, Mien Nhiet Doi (Tropical) Ltd. Company and Southeast Asia Ltd. Company – investors of Tropicana Island & Spa – will spend $36 million for building luxurious bungalows on the water, Bali-style. The remaining money will be spent on a 100-villa complex on the mountain. The resort is scheduled to open in 2010. Under a master plan approved by the central government, Phu Quoc island will be turned into a major tourist and economic hub by 2020. It will have 18,000 hotel rooms, attract 2 to 3 million tourists a year – with foreigners accounting for 35 to 40 percent – and earn annual revenues of $771 million from tourism services. It now has only 254 hotel rooms and 63 guesthouses with nearly 1,200 rooms. Some 170 local and foreign investors, including giant groups from France, Germany, the US, and UK, are keen to invest here. So far 46 projects costing $1.03 billion have been approved. |
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