Golf investors to the rounds of Long An

16:27' 29/07/2007 (GMT+7)

VietNamNet Bridge - Scores of investors are clubbing together to take a swing at winning golf projects in Long An province. Nguyen Huu Tuan, deputy director of the Long An Department for Planning and Investment, said nine investors were looking at golf and tourism blueprints for the Mekong Delta province. “We are happy to receive many projects in this field because these are highly benefitable,” Tuan said. However, Tuan said it was unclear whether the province had sufficient room to accommodate all the projects. While most of the projects would be located on the outskirts of the province, most of them each require 150 to 200 hectares. Tuan also voiced some environmental concerns. “Therefore, we need guidance from the Ministry of Planning and Investment about this,” Tuan said. Four of the projects come from South Korea, Hyoil, DM Lee, Genuwin D&C and the Viet-Han Join Stock Company while the rest are backed by domestic investors. Hyoil is the only firm which has been granted an investment licence. The company will build a $58 million, 36-hole golf course and resort in Thu Thua district’s My Phu commune. The first phase of the project is expected to be completed in 2010, with the entire 280ha complex slated for completion in 2015. DM Lee company is also processing procedures to build a golf course, villas, hotel and restaurants on a 300ha site in Can Giuoc district, while Genuwin D&C has signed an agreement with the local People’s Committee to build a golf course complex on 337ha in Thu Thua district. Meanwhile, Phu Quang New Residential Area Join Stock Company wants to build a residential area in Phuoc Lai district. The province is the ninth most successful in attracting FDI projects with 132 projects worth $1,134 million having arrived up to last month. (Source: VIR)