HCMC – Ba Ria-Vung Tau Province has issued a decision to cancel four resort projects in the province due to slow implementation and incapability of investors, according to the provincial Department of Planning and Investment.
The four cancelled projects, located in Xuyen Moc District, are Phu My Land SJC Resort invested by Phu My Land Investment Corp., Hong Nhung Goft Resort by Phu Thinh Investment Corp., Apec Vietnam Resort of Hai Duong Vina Project Corp., and Vietsovpetro Resort of Vietsovpetro Joint Venture Co.
Dang Minh Thong, deputy director of the department, told the Daily that among the four projects, Vietsovpetro Co. proposed to refrain from its project after failing to find a hot mineral spring as earlier expected for its resort project.
For the three others, the investors after obtaining the licenses failed to carry out procedures to develop the projects. Furthermore, a golf resort project is not listed in the Government’s golf course development plan, he added.
Besides the four above projects, the US$1.3-billion Vung Tau Wonderful World Theme Park invested by Good Choice Co. may be subject to license revoking, said the department.
Thong said the department and Vung Tau City had agreed on revoking the investment license of Good Choice’s theme park project but still had to collect the opinion from relevant agencies before asking for the provincial government’s decision.
The 130-hectare park, located in Vung Tau City’s Nguyen An Ninh Ward, consists of many components such as a five-star hotel with 2,500 rooms, four-star hotels with 4,000 rooms, international convention center, entertainment section, aquarium and replicas of the world’s famous tourist sites. This project is a huge complex of tourism and entertainment facilities in the province but has yet to be developed since being licensed in early 2008.
Besides, the Saigon Atlantis Hotel, one of the two biggest projects in Vung Tau Province, invested by Winwest Vietnam Co. with an investment amounting to US$4.1 billion, has not been started due to difficulties in site clearance. Due to this problem, the province has not been able to hand over land to the investor on time. However, construction of this project will also be started this month.
Ba Ria-Vung Tau is checking all projects to boost the implementation progress, give supports to investors as well as cancel projects of incapable investors, Thong said.
