Ba Ria-Vung Tau Province has issued a decision to cancel 4 resort projects due to slow implementation and incapability of investors, said the provincial Department of Planning and Investment.
The 4 cancelled projects, located in Xuyen Moc District, are Phu My Land SJC Resort invested by Phu My Land Investment Corp., Hong Nhung Golf 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 Saigon Times Daily that of these 4 projects, Vietsovpetro Co. had asked to stop its project after failing to find a hot mineral spring as earlier expected.
As for the remaining three, Thong said the investors after obtaining the licenses failed to carry out procedures to develop their projects. Furthermore, a golf resort project is not listed in the Government’s golf course development plan, he said.
Besides these 4 projects, the US$1.3-billion Vung Tau Wonderful World Theme Park invested by Good Choice Co. may have its license revoked, Thong said.
He 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, an international convention center, an entertainment section, and 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 2 biggest projects in Vung Tau Province, invested by Winwest Vietnam Co. with US$4.1 billion, has not been started due to difficulties in site clearance.
The province has thus not been able to hand over the land to the investor on time. However, construction of this project will be started this month.
Ba Ria-Vung Tau is checking all projects to boost construction progress, give supports to investors as well as cancel projects of incapable investors, Thong said.
