A memorandum of understanding between the Asia Coast Development Company Ltd and the Cotec Construction Joint Stock Company (CotecCons) was signed yesterday to co-operate on a US$75 million expansion of the Grand Hồ Tràm Strip’s resort complex.— Photo soha.vn

HÀ NỘI — A memorandum of understanding between the Asia Coast Development Company Ltd and the Cotec Construction Joint Stock Company (CotecCons) was signed yesterday to co-operate on a US$75 million expansion of the Grand Hồ Tràm Strip’s resort complex.

Signed at an event hosted by the American Chamber of Commerce and Việt Nam Chamber of Commerce and Industry (VCCI), the MoU outlines the construction by CotecCons of a new hotel tower, which will add 559 rooms to the complex, increasing total capacity at the resort to 1,100 rooms.

With the MOU, the project’s total investment will reach $1 billion.

At the signing, Michael Kelly, executive chairman of the Grand Hồ Tràm Strip project, confirmed his commitments to “not only escalating investments in Việt Nam, but also empowering Vietnamese companies and citizens through the Grand Hồ Tràm Strip’s operations, such as our partnerships with CotecCons, Vietjet and our appointment of Vietnamese citizens to senior management positions at our resort.”

This MOU represents another step forward for US-Việt Nam co-operation, and underscores the mutual gains that can be achieved when US and Vietnamese enterprises engage, he said.

A series of agreements and MoUs were also signed during the event. They include:

* Lower Mekong Research Collaboration Initiative between the US Ambassy to Việt Nam and Cần Thơ University,

* MoU on Climate Change in the Mekong Delta between the US-ASEAN Business Council and People’s Committee of Bến Tre Province,

* MoU between the Việt Nam Oil and Gas Group and the Honeywell International Inc

* MoU between the Việt Nam Oil and Gas Group and the Murphy Exploration and Production Company,

* First Solar – Thiên Tân Solar Project Agreement,

* USTDA Bạc Liêu Phase III Wind Farm Feasibility Study between Công Lý Construction-Trade-Tourism Company Ltd and the Black and Veatch Energy,

* MoU of Minnesota Biomass Plant between Tín Thành Industrial Electricity and Steam Company Ltd and a subsidiary of Warrior Mfg. LLC,

* Nuclear Safety Training Agreement between Lightbridge Corporation and Việt Nam Agency for Radiation and Nuclear Safety (VARANS),

* MoU on Support and Training between VARANS and Westinghouse,

* MoU to Promote Road Safety between UPS Việt Nam and AIP Foundation. — VNS