Thursday, October 19 2017

VietNamNews

Trúc Lâm Zen Quảng Nam tourism project needs new investors

Update: August, 30/2017 - 12:00
Phú Ninh Lake in Núi Thành District in Quảng Nam Province. Investor of Trúc Lâm Zen Tourism project in the district decided to halt the investment due to financial difficulties. — VNS Photo Lan Anh
Viet Nam News

QUẢNG NAM — Quảng Nam Province authorities have called for new investors for the Trúc Lâm Zen Quảng Nam tourism project in Phú Ninh District after the initial investor – Ba Vàng Liability Limited Company – withdrew from the project due to financial difficulties.

Vice chairman of the provincial People’s Committee Lê Văn Thanh said the project owner, which broke ground in the second quarter of 2016, could not allocate funds to continue the project, and they faced difficulties in planning, land clearance, land-use rights, environment protection, and infrastructure investment.

Thanh said the project, which covers 200ha with total registered investment of VNĐ1 trillion (US$44.2 million), was scheduled to finish its first stage in the first quarter of 2017, but the investor failed to complete the progress.

The vice chairman said the project was included in the provincial master plan as a combined eco-tourism centre in the province and central Việt Nam.

Thus far, Quảng Nam has attracted 135 foreign direct investment projects with registered capital of nearly $5.5 billion. — VNS

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