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Company to invest VNĐ700 billion in Ngã Bảy floating market

Update: September, 05/2018 - 15:37
People trade goods at Ngã Bảy floating market in Hậu Giang Province. — Photo
Viet Nam News

HẬU GIANG — A company has proposed a plan to develop tourism at the famous Ngã Bảy floating market in Nga Bảy Town in Hậu Giang Province, at a cost of more than VNĐ700 billion (nearly US$30 million).  

At a working session with provincial officials on Tuesday, representatives of Phước Lộc Trade-Construction Limited Company said the plan would be conducted in four phases. 

The first two phase would be carried out in 2018 and 2019, with the company investing VNĐ100 billion in building a fleet of tourist boats, necessary service facilities and an effective management apparatus for the market.

The company would also cooperate with local farmers, garden owners and artisans to create orchards, gardens and craft sites supplying products for the floating market and serving visitors as well. 

In the next two phases from 2019 to 2023, the company would build a trade and service complex at the site, including walking areas, a park and square by the river, a four-star hotel, restaurants and homestay facilities. Its ambitious plan also envisions large-scale ecotourism sites and an urban area in Ngã Bảy town.  

Lê Gia Phước, director of Phước Lộc Company, said that, considering the location and popularity of the Ngã Bảy floating market, the company wanted to develop a tourism site on a total area of 200ha. 

Chairman of the provincial People’s Committee Lê Tiến Châu said the province lacked capital for tourism development due to a limited budget.

He assigned agencies to create favourable conditions for the company to undertake procedures and realise the plan. 

The Ngã Bảy floating market is one of the busiest markets in the Mekong Delta, and one frequented by tourists. It was formed more than a century ago at the crossing point of seven canals and rivers. 

However, when local authorities moved the market to another site 10km away for waterway safety reasons, sales began to fall. The province is seeking ways to revive the market for tourism purposes. — VNS




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