U.S. companies to build recreation complexes in VN
Two American companies, Andy Dye and Three, will pair up with a Vietnamese partner to build a recreation complex, a golf resort and a five-star hotel in Vietnam.
The two American companies on Dec. 17 signed a memorandum of understanding with Au Lac Ltd. Co. to form a joint-venture called the Ha Long Bay Group.
The joint venture will invest $ 450 million US to build a 250-hectare recreational complex on Tuan Chau Island in the northern province of Quang Ninh. The joint- venture’s first project envisions a 36-hole golf course and a five-star hotel with 140 rooms and 1,490 villas.
The partners will sign a contract next month to carry out the first project.
The Ha Long Bay Group’s plan for a second project is to build a complex of six golf courses on a 1,000-hectare site in Uong Bi Municipality of Quang Ninh Province which includes 2,300 villas.
The third project is a five-star hotel with 400 rooms in the city of Nha Trang in Central Vietnam’s Khanh Hoa Province.
The contract-signing for the two latter projects is scheduled for early next year.
The CEO’s of Andy Dye and Three traveled to Vietnam on the recommendation of their friend Nguyen Cao Ky, vice president of the former Saigon Regime.
In a recent interview with Thanh Nien, Mr. Ky said that foreigners like the beautiful landscape of Vietnam and that the country is an attractive destination for tourism investors.
Reported by Luu Quang Pho - Translated by T.H.
Story from Thanh Nien News
Published: 18 December, 2004, 22:30:57 (GMT+7)
Copyright Thanh Nien News
