Quang Nam licenses another giant project

VNRE - The Quang Nam People’s Committee has just allowed Genting-VinaCapital to invest in a giant tourist project in the locality.

The project is seen as “giant” as it costs up to US$ 4 billion.

According to the local authorities, the project is to build a number of separate subprojects, including casinos for foreigners, hotels, a tourist resort, villas and some 2,500 homes for sale.

The local authorities also agreed to permit Genting-VinaCapital to cooperate with other partners or hire subcontractors in the project implementation.

Earlier, the province had withdrawn the investment licence of another giant eco-tourist project at the local beach of Rong with expected cost of US$ 4.15 billion since the investors have failed to fulfil their commitments under the contract.

Source: DDDN