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Gone are the days when the local provincial try to attract
tourism projects at any costs. They have become much choosier in selecting
investors and approving projects.
A lot of investors have been rushing to Binh Dinh and Binh Thuan provinces to
register resort and tourism complex projects on the coastal areas. Even the
investors, who do not have financial capability, also registered projects to get
land allocated.
Binh Dinh has a 134 kilometer coastal line and a lot of beautiful landscapes
which are the wonderful conditions for developing tourism and entertainment
services.
In order to take full advantage of the heaven-sent conditions, the provincial
authorities built a coastal road that links Hoai Nhon district and Quy Nhon
City. They hope that the Nhon Hoi Economic Zone, the wonderful natural
conditions and the favorable transport infrastructure, will facilitate the
strong development of the tourism industry.
Therefore, it is understandable why investors have been flocking to the central
province. To date, investors have registered 9 tourism projects on the costal
areas with the total registered capital of 15,402 billion dong.
However, the provincial authorities are considering revoking investment licenses
from the investors who really do not have capability to implement projects.
The Nhon Hoi trade, service and tourism complex project, licensed in November
2006, remains a “pending” project.
At first, the project was expected to cover an area of 74.6 hectares, but later,
the project’s area has been raised to 94 hectares. The 181.2 billion dong
project was to be implemented in 2007-2012. To date, 71.16 hectares of “clean
land” (the land ready for construction after the site clearance work completed)
have been allocated to the investor. By May 2011, the total construction work
volume has reached 82.2 billion dong.
However, according to the provincial authorities, though the project is located
on an advantageous position, the scale and the architecture of the project do
not commensurate with the “golden land” position. Meanwhile, the investor proves
to be unprofessional and does not follow the current laws in the investment.
Rainbow Resort project also got the investment license five years ago, in
December 2006, but no considerable improvement has been made so far. The 390
billion dong project, which was expected to cover an area of 56 hectares and
implemented during five years, from 2009 to 2014, has been going too slowly. To
date, the value of the construction works had been 5.58 billion dong only.
The investor has been also found out as unprofessional, who cannot fulfill his
commitments.
Similarly, the projects on Vinh Hoi tourism complex and resort, Linh Phong
pagoda eco-tourism project, Hai Giang tourism complex all have been going very
slowly due to the problems in the site clearance. The Emerald of Vietnam project
developed by ALT tourism development company has made no move over the last
year, since the investor still needs to negotiate with the South Korean Gold
Star on the mine disarming works in 2011.
The 1840 billion dong project on developing a high grade resort developed by the
Binh Dinh Youth Company, which was expected to be implemented in 2009-2018, also
has been going very slowly with only 14.6 billion dong worth of works’ value has
been fulfilled. The problem is that the investor is now still busy exploiting
titanium for profit.
Ho Quoc Dung, Deputy Chair of the Binh Dinh provincial people’s committee has
admitted on Tin Tuc newspaper that the projects have been going too slowly, due
to many reasons. Most of the investors still lack determination to implement
projects. Some of them are unprofessional, while others ignore the regulations
on environment protection. Especially, some projects have been pending for a
long time after the investor finished the titanium exploitation.
Dung has emphasized that the local authorities will revoke licenses from the
incapable investors in order to give opportunities to really capable investors.
Meanwhile, the authorities of the Binh Thuan province have stated that they will
only accept the projects which cover an area of five hectares at least and
encourage 3-star and higher-quality projects.
The decision has been released in order to choose the best investors for the
real estate tourism projects in the province and prevent the long coastal areas
from being split into small pieces.
Ngo Minh Chinh, Director of the Binh Thuan provincial Department for Culture,
Sport and Tourism said on Thoi bao Kinh te Saigon that the locality is seeking
the investors for central marine sports complexes, yachting, formula 1 racing
cars, or balloon business services.
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