Central Phu Yen province is emerging as one of Vietnam’s most attractive foreign direct investment destinations with $5 billion in projects licenced last week.
The province’s pristine landscape is ripe for development
The province has licenced six projects including a Brunei-backed New City Vietnam tourism project worth $4.3 billion. It will feature 4,300 five-star and 8,900 four-star hotel rooms, 160 high-grade villas, a 36-hole golf course and other service facilities to capitalise on the province’s stunning natural landscape.
Covering 565 hectares Tuy An district’s An Chan commune and Tuy Hoa city’s An Phu commune and a part of the South Tuy Hoa Urban Area, the project is scheduled for completion in 2017. The province gave the green light to three other property projects. The first is the expansion of the VietStar Resort & Spa project to develop a tourism area on 68.4 hectares at the Nui Thom and Bai Xep tourism areas located at Tuy Hoa. With investment capital of $30 million, the project consists of villas, a resort and a cable system linking Nui Thom and Bai Xep.
The Bai Tram tourism project, invested by La Perla-Tashun, is also to be expanded over 89.4ha in Song Cau district’s Xuan Canh commune. With investment capital of $10 million, the project features a hotel, villas, an entertainment and sport centre and a convention centre. The Hoya-Dai Thuan joint venture also received the okay to build a resort in Song Cau town with investment capital of $3 million.
Apart from the property sector, the committee also gave a licence for a $17.4 million project to explore and exploit bauxite with capacity of 500,000 tonnes per year in Tuy An and Son Hoa districts and a $3.5 million fishery project managed by An Hai Company in Tuy An district. An investment policy was also introduced to 21 other projects.
Among them were the Ganh Da Dia tourism area with $550 million, Tuy Hoa airport improvements worth $300 million and $150 million in expressway improvements linking Tuy Hoa airport to Ganh Da Dia tourism area.
The rest of the 18 projects worth $300 million, occupying 610ha.
Phu Yen People’s Committee chairman Pham Ngoc Chi, said one important factor was all of the projects would not occupy agricultural land. “We [local authorities] will closely and strictly manage the implementation of those projects, to ensure them to be accurate to zoning and design which was approved by the committee,” Chi said.
Chi asked local authorities to be active in finishing documentation and assist the projects. So far 115 projects have been reported in Phu Yen province, with 34 foreign investors coming from India, Thailand, Malaysia, Brunei, Singapore, Taiwan, China, South of Korea, Japan, Germany, the UK, Russia, the US, Canada, Sweden, the Netherlands and the United Arab Emirates.
Among those, 29 projects have received licences with total capital of $6.3 billion. Some 84 other projects have announced investment policies worth $7.84 billion.Phu Yen has a lot of beautiful natural landscapes and cultural and historical places which is suitable for developing tourism destinations.