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The new terminal can accommo-
date big aircraft like the Airbus 320/321
and Boeing 777. A major road from the
airport to Tuy Hoa city is also nearing
completion.
It may be early to predict whether
these changes will spark a turnaround
for provincial tourism, but Phu Yen’s
management authorities have high ex-
pectations, particularly given the mam-
moth investment project of Vung Ro
Petroleum - a $3.18 billion oil refin-
ery which could lead to major break-
throughs.
Nhat confirmed that Phu Yen is
seeking to become a big tourism hub
turning tourism into a spearhead sector
by 2020. By 2015 Phu Yen envisages re-
ceiving about 900,000 visitors, includ-
ing 100,000 foreigners. The number of
hotel rooms is also expected to reach
4,200 by 2015, double the current fig-
ure.
A huge $2.5 billion tourism project
was recently announced. On January 10
Vung Ro Petroleum Limited and Rose
Rock Group – a boutique alternatives
investment management and real es-
tate development firm founded by the
Rockefeller family - entered into a coop-
erative agreement on the development
of a resort community in Vung Ro Bay.
Based on the current master-plan,
Vung Ro Bay will be developed to in-
clude The Marina, The Village and Bai
Mon beach. These three areas will be
connected by The Green Thread, a 2.5
kilometre pedestrian path.
The Marina is the gateway to Vung
Ro. This will be a key destination com-
prising 350 marina berths, a waterfront
hotel and space for shops, bars and
restaurants. The Village will be centrally
located in the development and provide
the majority of the residential accom-
modation. In addition, there will be a
650-metre retail street to support the
community.
Bai Mon, with its extensive sandy
beach, will boast a lively beach resort
with a variety of water-sports available
and a more exclusive boutique hotel
along its 400-metre length.
The entire Vung Ro Bay develop-
ment will emphasise sustainable devel-
opment and focus on creating an ex-
traordinary, thriving mix of education,
healthy living, lifestyle and culture.
The gross commercial area will
total approximately 200,000 square
meters, providing space for schools,
healthcare facilities, retail and enter-
tainment complexes.
Kirill Korolev, CEO and general di-
rector at Vung Ro Petroleum said: “We
are extremely excited to be embarking
on this mega project. Our plan is to cre-
ate a vibrant community for Vung Ro
around the area’s natural beauty and
provide a world class destination for
discerning residents and visitors.”
Collin Eckles, president of the Rose
Rock Group said: “We are delighted to
be working with Vung Ro Petroleum on
the Vung Ro Bay project and we look
forward to making this development an
outstanding and preferred destination
in the Asia Pacific region for visitors and
a lifestyle choice for residents. We also
look forward to bringing unique and
differentiating occupiers to the project
from our global network”.
Viet Star Resort, one of the
province’s best options
PHU YEN IN FOCUS
As part of the fishing festival performers pray for good luck