ThaiGroup plans $4.9 bln tourism-resort complex in northern Vietnam

Vietnam’s multi-sector corporation ThaiGroup plans to implement a VND128 trillion ($4.86 billion) tourism and resort complex in the northern province of Ninh Binh, home to the UNESCO-recognized Trang An scenic landscape complex, later this year.

The project is expected span more than 1,000 hectares and include between 15,000 and 20,000 hotel and resort rooms, significantly expanding accommodation capacity in Ninh Binh.

ThaiGroup said the project aims to diversify the province’s tourism offerings beyond traditional heritage tourism by adding large-scale entertainment, leisure and nighttime economy attractions designed to encourage visitors to stay longer.

The company expects the average tourist stay in Ninh Binh could increase to four-five days once the complex is operational.

The firm said the project is intended to help reposition Ninh Binh as an international destination for tourism, entertainment and experiential travel rather than solely a cultural and heritage site.

It estimated that the development may contribute over VND35 trillion ($1.33 billion) in land-use fees to the state budget.

To support the project’s planning and design, ThaiGroup has partnered with U.S.-based architecture and urban planning firms Populous and Skidmore, Owings & Merrill (SOM).

Ninh Binh, located about 90 kilometers south of Hanoi, has emerged as one of Vietnam’s fastest-growing tourism destinations in recent years, benefiting from its UNESCO-recognized Trang An scenic landscape complex and limestone mountains. The province is also home to Bai Dinh Pagoda – one of the largest Buddhist temple complexs in Southeast Asia.

After an administrative merger with neighboring Ha Nam and Nam Dinh provinces last July, Ninh Binh province now spans 3,642 km2 with a population of over 4.4 million people.

According to the provincial tourism watchdog, Ninh Binh welcomed nearly 9.9 milion tourist arrvials in the first quarter of 2026, including one million foreign visitors.

ThaiGroup, formerly known as Xuan Thanh Group, was founded in 1976 by businessman Nguyen Duc Thuy, also known as “Bau Thuy.” It initially operated in construction and cement production before expanding into real estate, transportation, insurance and financial services.