Construction begins on US$4 billion five-star resort project

VGP - Work started on a US$4 billion integrated resort project in Hoi An, Quang Nam province, making it the biggest project so far in the locality.

April 24, 2016 7:27 PM GMT+7

PM Nguyen Xuan Phuc (3rd, L) attends the commencement ceremony of the Hoi An South integrated resort project in Hoi An, Quang Nam, April 24, 2016. Photo: VGP

Jointly invested by VinaCapital and Gold Yield Enterprises, the resort comprises of five-star hotels, villas, and a golf course.

The first phase of the project will be implemented on an area of 160 hectares with total investment capital of US$550 million and is expected to complete in the first quarter of 2019.

The resort, located near Da Nang international airport, the world cultural heritages, Hoi An ancient town and My Son Sanctuary, and the world biosphere reserve of Cu Lao Cham, is expected to create jobs for 2,000 local residents.

Speaking at the commencement ceremony on Sunday, PM Nguyen Xuan Phuc affirmed the significance of the project, which would contribute to turning tourism into a spearhead economic sector in Viet Nam.

He took the occasion to assure the Government commits to creating favorable conditions for both domestic and foreign investors./.

By Hai Minh