$250 mln resort project revitalized in Binh Dinh after 20-year suspension
An aerial view of Quy Nhon city, Binh Dinh province, central Vietnam. Photo courtesy of the province.
Groundbreaking for the $250 million Vinh Hoi Resort project in Phu Cat district, Binh Dinh province took place on Wednesday, after two decades of delay.
Vietnamese American Hotel and Resort JSC, a 100% foreign-invested company, is the investor. Construction on the 230-hectare resort project, with two phases, is expected to complete in 2028.
It includes 1,129 villas, 1,192 hotel rooms, and other utilities like an 18-hole golf course, a shopping complex, a theme park, services and entertainment.
The developer plans to operate more than 200 luxury resort villas in 2024, including beach villas and hilltop villas of one to four bedrooms. An additional 400-500 units will debut each following year.
Vinh Hoi Resort will be run under 5-star international standards. Its design is set to prioritize environmentally friendly materials, and embellish the natural landscape with various green zones, preserving indigenous culture.
The project was first proposed in 2002 and officially registered for investment in 2007. With an initial scale of 234 hectares and a total investment of more than $250 million, construction was expected to complete in 2014. However, the project was shelved for two decades due to the investor’s incapacity.
At the end of 2020, VinaCapital, a leading investment fund in Vietnam, became the company's majority stakeholder, paving the way for the project’s relaunch.
The delay of the project has negatively impacted 500 households on the project site. Provincial authorities have built two relocation zones with 345 plots of land for their resettlement.
- Related News
- Read More
Vietnam offers numerous advantages for Skoda Auto's investment: executive
Vietnam offers a range of advantages for investment by Czech automaker Skoda Auto, including its seaport system, logistics infrastructure, and skilled labor, the company’s chairman and CEO Klaus Zellmer said on Thursday.
Industries - Fri, March 28, 2025 | 7:33 pm GMT+7
Vietnam plans to cut import tax for LNG to 2%
Vietnam’s Ministry of Finance is drafting a decree on preferential import tax for some products, including a proposal of 2% tax rate for LNG.
Energy - Fri, March 28, 2025 | 4:31 pm GMT+7
AES’s $2.1 bln LNG power project needs solutions to meet deadline: Vietnam authorities
The 2,250-MW Son My 2 LNG-fired power project, invested by the U.S.'s AES and state-run Petrovietnam subsidiary PV Gas, “needs solutions” to meet its deadline.
Energy - Fri, March 28, 2025 | 4:06 pm GMT+7
Over $9 bln pledged for investment projects in central Vietnam province Binh Dinh
Binh Dinh province on Friday handed over MoUs on investment cooperation, in-principle approvals and investment registration certificates to 62 projects worth over VND231 trillion ($9.03 billion).
Industries - Fri, March 28, 2025 | 4:05 pm GMT+7
Vietnam's giant Vingroup eyes mullti-billion-dollar renewable, LNG power projects
Vietnam's leading private conglomerate Vingroup is seeking the government's permission to develop seven renewable energy projects worth $20-25 billion and a $5.5 billion LNG-fired power project from 2025-2030.
Energy - Fri, March 28, 2025 | 1:09 pm GMT+7
While the buzz around a market upgrade is back, who is this milestone for?
A key issue for the Vietnamese stock market is the underdevelopment of the institutional investor base. The dominance of retail investors can create heightened volatility, which, in turn, reduces the incentive for high-quality companies to list on the stock exchange, writes Gary Harron, head of securities services at HSBC Vietnam.
Consulting - Fri, March 28, 2025 | 10:31 am GMT+7
Vietnam's private lender VIB seeks strategic shareholders: chairman
Vietnam International Bank's (VIB) board of directors is now in discussions with banks and investment funds to find suitable partners for the lender, ensuring a mutually beneficial partnership that goes beyond finance.
Banking - Fri, March 28, 2025 | 8:31 am GMT+7
Vietnam tech giant FPT opens semiconductor R&D center in central Vietnam
Vietnam’s leading tech group FPT on Thursday inaugurated its high-tech and semiconductor R&D center at the Danang Software Park No. 2 in the central city of Danang.
Industries - Fri, March 28, 2025 | 8:00 am GMT+7
HCMC's international financial center development to be phased out: city leader
Ho Chi Minh City aims to become an international financial center, with related development plan divided into three phases, said Vo Van Hoan, its Vice Chairman.
Economy - Thu, March 27, 2025 | 11:11 pm GMT+7
Car producers in Thailand postpone export models
Car manufacturers in Thailand have decided to delay making some models for export due to U.S. President Donald Trump's new tariff policy.
Southeast Asia - Thu, March 27, 2025 | 10:17 pm GMT+7
Indonesia approves $7 bln budget for food security in 2025
Indonesia’s Ministry of Finance on Wednesday announced that the government has approved a budget of IRD118 trillion ($7.1 billion) for food security programs in 2025.
Southeast Asia - Thu, March 27, 2025 | 10:14 pm GMT+7
Honda Vietnam rolls out first domestically produced electric scooter
Honda Vietnam has officially launched its first domestically produced electric scooter, the ICON e:, marking a significant step in the company’s electrification and sustainable mobility strategy in Vietnam.
Southeast Asia - Thu, March 27, 2025 | 10:09 pm GMT+7
Vietnam's Quang Ngai seaport system requires over $420 mln investment by 2030
The seaport system in the central Vietnam province of Quang Ngai will need about VND10.83 trillion ($423.54 million) in investment by 2030, according to the detailed 2021-2030 development plan for local seaport land and water areas, with a vision to 2050.
Southeast Asia - Thu, March 27, 2025 | 10:06 pm GMT+7
Leading steelmaker Hoa Phat targets record revenue on partial operation of central Vietnam plant
Hoa Phat Group, Vietnam’s top steelmaker, targets a record-high revenue in 2025, driven by the expected partial operation of a steel and iron complex in the central region this year.
Companies - Thu, March 27, 2025 | 8:10 pm GMT+7
Offshore wind power developer CIP seeks long-term cooperation with Vietnam
Copenhagen Infrastructure Partners (CIP), a major Danish renewable energy developer, is seeking to reach long-term cooperation with Vietnamese businesses in the offshore wind power sector.
Energy - Thu, March 27, 2025 | 4:16 pm GMT+7
Vietnam giant VinFast moves to expand EV service in Philippines
VinFast, Vietnam’s largest electric vehicle (EV) manufacturer, has partnered with MGA.414 Corporation, the operator of the JIGA automotive service chain, to expand its EV service network in the Philippines.
Southeast Asia - Thu, March 27, 2025 | 3:48 pm GMT+7
