Vietnam - Hoa Binh is basking in the sun

Many tourism projects are seeking a heavenly future in Hoa Binh province.

The province is proving to be a handy refuge for Hanoi’s city slickers

Hoa Binh recently granted investment certificates to seven key tourism projects and signed memorandum of understandings (MoU) with four other investors.

Among the projects, Song Da Tourism Investment will develop the Robinson tourism resort at a cost of VND280 billion ($13.5 million) in Da Bac district’s Tien Phong commune. Thien Nhat Investment, Construction & Trade will build a trade service centre in Luong Son district’s Thanh Lap commune and Hoang Truong Giang Trade and Construction will construct a supermarket at investment fund of VND52 billion ($2.5 million) in Hoa Binh city.

The licenced projects also include Dai Phu Phat’s Ngoc Lake eco-tourism resort with registered capital of VND250 billion ($12 million) in Trung Minh commune of Hoa Binh city, Yen Quang-Geleximco’s VND2,506 billion ($121 million) eco-urban area in Yen Quang commune by Hanoi Export-Import JSC, and Polaris luxury resort at VND343 billion ($16.6 million) in Luong Son district by Polaris One-Member Limited Company.

Hoa Binh Oil & Gas’s VND304 billion ($14.7 million) eco-urban area project in Luong Son district’s Nhuan Trach commune is also on the list.

In addition, the province signed MoUs with four other investors, including Gia Phat Finance & Investment to develop an entertainment complex worth VND2 trillion ($96.6 million) in Ngoi Hoa area. Phuc Dong Phuong will invest over VND100 billion ($4.8 million) a luxury green resort in Thung Nai commune.

Thanh Co-signed an MoU on building an entertainment complex in Hoa Binh city’s Trung Minh commune of with total investment of VND200 billion ($9.7 million), while Vietnam-Germany Small and Medium-sized Enterprises Association also plans to set up a luxury entertainment complex in Hoa Binh Lake area.

“With the geographical position of Hoa Binh, I believe that in a short time the province will become the second home for people with medium incomes onwards from Hanoi, so investors should study to invest in tourism in Hoa Binh,” said Hoa Binh People’s Committee Chairman Bui Van Tinh. 

He said that Hoa Binh had promulgated a policy to handover 5,700 hectares for second home projects and the province’s  tourism would be developed into a key economic sector to attract potential investors.

“We pledge to create the most favourable conditions for domestic and foreign investors to Hoa Binh,” he said.

Investors arriving in Hoa Binh have spoken highly about the province’s tourism potential and investment climate.

“Hoa Binh has a lot of tourism development potential and projects investing in the province enjoy many incentives. That is why we have picked Hoa Binh as our investment destination,” said Dinh Van Thao, director of Archi Vietnam. 

As a successful investor in Hoa Binh, Thien Minh Company said it would pump capital into larger projects in the province.

“I really have the confidence to tell you that Hoa Binh could be a famous destination in the near future if the province can use its natural advantages to attract investors and tourists. This is a long-term investment,” said Bev Taylor, marketing director of Thien Minh Group’s Buffalo Tours.

Over recent years, Hoa Binh’s tourism sector has seen good performance. During 2006-2010, tourist arrivals in the province grew 24.9 per cent per year on average. In the first half of 2011, Hoa Binh received 745,300 tourists, an on-year increase of 20.72 per cent. In the six-month period, the sector saw total revenues of VND239 billion ($11.5 million), up 24.5 per cent on-year. 

Kieu Linh | vir.com.vn

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