$4.5b tourism project in Ninh Thuan waiting for license

Ninh Thuan provincial People’s Committee was planning to grant the investment license to the $4.5-billion Mui Dinh tourism project invested by Hong Kong’s Polo Beach International Limited Co in the province on March 19, the state-owned Thoi Bao Kinh Te Viet Nam newspaper reported.

The project is designed on a 1,500-ha site, including 700 hectares for first stage to build high-class resort, large-sized entertainment complex, luxury villas, public works…

Apart from the project, another $0.9 billion one on building wind and solar power plant proposed by Belgium-based Enfinity company is expected to be granted in the coming time.

March 19 is also the one-year anniversary of establishing Ninh Thuan Economic Development Office (EDO), a new form of investment promotion.

EDO is a part of the province’s social-economic development strategy for the 2011-2020 period and vision to 2030 under the consultancy of US’s Monitor group. The office started operation from March 19, 2010 based on Monitor’s idea and the form of Singapore’s Economic Development Board (EDB).

All procedures related to firm corporation, investment license, construction, land, environment, ground clearance compensation, and other licensing proceedings will be dealt by EDO.

Till now, EDO has helped the provincial People’s Committee to grant investment certificates to 70 projects totaling at 160 trillion dong ($8 billion), much higher than annual average.

With EDO, Ninh Thuan province expects to upgrade its province competition index (PCI).

Tags: Mui Dinh tourism project