At the investment promotion conference 2018 of Quang Binh which has just taken place, dozens of major real estate projects attracted and get committed to capital contribution by real estate giants, with a total registered capital of up to billions of dollars.
With plenty of beautiful landscapes, Quang Binh province is considered a new destination in the field of resort real estate development in Vietnam. Quang Binh is located on the axis of economic development of East – West from the East Sea to Laos, Northeastern Thailand and countries in Central – South Asia.
The New York Times magazine of the US voted Quang Binh ranked 8th in the top 52 most attractive tourist destinations in the planet, and as the most attractive destination in Asia.
That is the opinion of many domestic and foreign economic experts represented at the Investment Promotion Conference in Quang Binh in 2018, just held on August 27.
Also at this conference, the leaders of Quang Binh province awarded certificate of investment registration, memorandum of understanding for investment cooperation for 66 projects with a total investment capital of 168.869 billion VND (equivalent to 7,34 billion USD). The list shows the most investment from FLC, with a capital of about 63.000 billion VND.
In which, the province has granted certificate of investment registration to 36 projects of 23 investors with a total investment capital of 29.717 billion VND (equivalent to 1,29 billion USD); granted investment cooperation agreements for 30 projects of 24 investors, with a total investment capital of 139.152 billion VND (equivalent to 6,05 billion USD); granted a memorandum of understanding on cooperation for Quang Binh province e-government development to Vietnam Post and Telecommunication Group and Military Industry-Telecommunication Group.
Mr. Ho An Phong, Director of the Department of Tourism, said that Quang Binh has determined tourism as a key economic sector, as a consequence, the provincial leaders and the tourism sector always make great efforts and prioritize promoting tourism as well as calling and facilitate investors in the best condition to develop local tourism.
Accordingly, the province government focuses on calling for investment in developing coastal eco-tourism resorts, new exploitation of caves, island tourism products, ethnic cultural tourism, community-tourism products; exploiting and promoting historical relics, culture, festivals and so on to diversify tourism products, thereby meeting the needs and prolong the stay time of tourists.
Currently, there are quite a few investors that have been interested and are facilitated by Quang Binh province to invest in tourism development in the locality. In which, a notable destination is the Vung Chua – Dao Yen coastal resort of Truong Thinh Group in Quang Dong commune, Quang Trach district with an area of 45ha, investment capital of more than 500 billion VND.
Especially, in May 2018, after more than 2 years of construction, Vingroup inaugurated and put into operation the Vincom complex and shophouse in Dong Hoi city with a total area of 7.000m2.
In addition, Viet Group Company is also in the course of constructing the Movenpik Central hotel in Bao Ninh peninsula. This unit is also investing in another 5-star project in Bao Ninh peninsula, Quang Binh, namely, Pullman complex of hotel and resort.
It could not help but mention the FLC Quang Binh resort, entertainment, villa, golf course project of FLC Group (13.000 billion VND). This project stretches along the coast of Le Thuy district, Quang Ninh and is considered the project with the largest number of golf courses in Vietnam after completion.
Many big projects of other giants are also registered for investment such as the Dinh Muoi mixed-use tourist urban area project of T&T Group with a total investment of 28.800 billion VND, TMS Quang Binh Resort project of TMS Global JSC with total investment of 4.835 billion VND
Most recently, Truong Thinh Group has also invested in developing Bao Ninh Sunrise project with a total investment of up to 1.000 billion VND. Notably, in the scope of this project, Truong Thinh also cooperates with global leading golf course designer – Great White Shark Group (USA) to invest in a 36-hole golf course according to international standards.
According to People’s Committee of Quang Binh province, the locality has just approved a project of calling for investment in the period of 2018-2020 with focus of tourism and resort real estate sector based on the available potentials and advantages. Specifically, in the field of tourism, service and trade, there are 6 coastal resort projects, 8 eco-resort projects, 3 shopping mall projects are called for capital investment by the province, with a total amount of more than 37.000 billion VND and more than 1.500 ha of land area for the project.
At the conference mentioned above, the leaders of Quang Binh province affirmed that for purpose of developing tourism as well as real estate on the basis of proposed plan, first of all, the issue on infrastructure must be prioritized. In the past time, the locality has prioritized to spend a lot of capital to develop the transport system connecting with other economic regions. Currently, the province is also inviting investors to participate in many large-scale transport projects, with a total investment of more than 20.000 billion VND.
Through research, in the mid of 2017, there are two special meaningful events held in Quang Binh in the field of transport infrastructure, namely: Technical open of Nhat Le 2 bridge (total capital of nearly 1.000 billion VND) connecting center of Dong Hoi City with Bao Ninh peninsula and opening of the first international flight route Dong Hoi – Chiang Mai.
Besides, Quang Binh has also completed important projects such as expansion of NH1A section passing through the province, expansion and upgrade of Minh Cam – Dong Le section, improvement and upgrade of Khe Ve – Cha Lo section, etc.
It is expected that by 2020, all National Highways and provincial road will be put into the correct technical grade; National Highway 12A and National Highway 9B will be expanded and upgraded; a road connecting Nhat Le 2 bridge to Ho Chi Minh road will be constructed. At the same time, the province is also looking for investors to upgrade and expand Dong Hoi Airport for aim at improving transport capacity according to international standards.