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PHU YEN IN FOCUS
Hon Ngoc Bai Tram is the only for-
eign invested resort in the province.
The entire resort consists of just seven
villas. Bigger in size is Viet Star resort;
built by a Ho Chi Minh City investor, this
has 80 rooms.
“This does not mean Phu Yen is not
charming in the eyes of investors,” said
deputy chairman of Phu Yen People’s
Committee, Tran Quang Nhat. He ex-
plained that in the past the province ne-
gotiated for three years with a wealthy
investor from the United Arab Emirates
(Sama Dubai group) for an ambitious
multi-billion dollar plan to shape a re-
sort community along O Loan Lagoon,
Xuan Dai Bay, Ganh Da Dia and upgrade
Tuy Hoa Airport. However, when the
sides were about to wrap up the deal,
the global economic recession hit and
Sama Dubai pulled out.
Another Brunei investor was also
set to pump more than $4.3 billion into
building an upscale resort at Bai Xep-
Hon Chua. Under the plan, the resort
would include 8,500 hotel rooms, a
golf-course and a gaming facility ear-
marked for foreigners. This mega pro-
ject is now still at site clearance stage
since the foreign investor was also hit
hard by the global economic downturn.
Foreign investors’ ambitious pro-
jects show the province has huge
untapped potential. Each year, only
around 500,000 visitors holidayed in
Phu Yen, of which just 40,000 were
foreigners.
SEEKING A BOOST
To spur the tourism industry’s de-
velopment, Phu Yen is focusing on im-
proving its image and bettering trans-
port infrastructure.
According to Bao, the essential
factor deterring investors as well as
visitors is transport. Currently, it takes
a half day to reach Phu Yen by car
from the southern hub of Ho Chi Minh
City, while air passengers will have
to get up very early to board small
planes at high prices.
“If the transport problems were
addressed, Phu Yen would surely ap-
peal to investors,” Bao said.
Two important transport infrastruc-
ture projects in Phu Yen which bring
hope to business people operating in
tourism are the new passenger terminal
at Tuy Hoa Airport and the landmark
Deo Ca tunnel project.
The VND15 trillion ($743 million)
Deo Ca tunnel project is slated for com-
pletion in 2016. It will significantly
reduce travel time between Phu Yen
and Khanh Hoa and spur economic and
tourism development.
The new terminal at Tuy Hoa Airport
was opened in September last year and
can now handle over 550,000 passen-
gers annually, an increase of 10 times.
The province is well known
for its colourful fishing fleets
19
timeout
Bai Mon-Mui Dien beach - one of the province’s
many stunning stretches of sand