VietNamNet Bridge – The Cam Ranh peninsular, which is called the golden bay
of Khanh Hoa province, has witnessed the “investment boom” when a lot of
investors plan multi-million dollar projects there.
If someone goes along the 100 meter-wide Nguyen Tat Thanh Boulevard nowadays, he
would see many construction sites from which luxurious resorts would arise in
the future, instead of the vast sand expanses they saw in the past.
The network of large roads, called the “fishbone network” spreading from the
Nguyen Tat Thanh Boulevard to the Bai Dai beach has been asphalted. The
electricity grid, water supply and drainage and the greenery all have been
developed in the preparation of the strong development of Cam Ranh in the near
future.
According to Do Huu Thiet, Deputy Director of the Khanh Hoa provincial Planning
and Investment Department, the Cam Ranh peninsula’s northern part has been
approved by the Prime Minister to become an area with high quality tourism
center, air transportation center, national and international convention center
and shopping malls.
Since 2003, when the Cam Ranh peninsular development strategy was approved, the
whole northern part of the peninsular, covering an area of 1,253 hectares, has
been fully occupied with investment projects.
Also according to Thiet, by the end of 2012, the local authorities had granted
32 projects to 33 domestic and foreign investors. It is expected that the
projects, capitalized at VND19.329 trillion, would use 1,247 hectares of land.
In mid January 2013, Emirates NBD Bank PJSC from UAE, through a Swiss company
and a Vietnamese partner, decided to put $200 million into the tourism, resort
and hotel projects in Khanh Hoa.
In the immediate time, the group would implement the project on a resort and
6-star villas on an area of 19 hectares in the northern part of the Cam Ranh
peninsular, estimated to cost $80 million.
The area has also witnessed the landing of a lot of the world’s big
conglomerates. Park Hyatt hotel group builds 5-star hotel Hyatt Regency Camranh
Cam Ranh Bay Resort Spa, its third project in Vietnam
Vinpearl has spent money to build Vinpearl Bai Dai tourism complex. Hoan Cau Nha
Trang is now the investor of the general tourism-service complex in the northern
part of Cam Ranh.
The Golden Bay, the first urban area project in Cam Ranh, developed by Hung
Thinh Company has been put on sale. Meanwhile, the Khanh Hoa provincial
authorities are considering granting investment licenses to two Russian
investors.
Cam Ranh opens to foreign investors
Nguyen Dinh Trung, President of Hung Thinh Company, the investor of Golden Bay,
highly appreciates the investment opportunity on Cam Ranh.
Trung said that this is the locality with the most beautiful coast in Vietnam,
where the climate is wonderful, the transport conditions are good with the Cam
Ranh International airports (one of the 4 existing international airports in
Vietnam).
“This has prompted us to decide to pour money into Golden Bay,” Trung said.
Do Huu Thiet, Deputy Director of the Khanh Hoa provincial Department of Planning
and Investment, said the local authorities would only consider licensing
projects, if the projects need 10 hectares of land at least and has the
investment rate of VND25 billion per hectares at minimum. Especially, investors
would be required to pay the land leasing fee in advance.
In an effort to attract investment, the provincial authorities have allowed
foreign investors to develop their projects here, while in the past, the
investors were mostly Vietnamese.
Chau Giang