BVI subsidiary of Giant Group seeks license to build $4 billion tourism complex in Vietnam

British Virgin Islands-based affiliate of the Giant Group Ltd., which has worked in Malaysia, is now seeking the approval of the Vietnam government to build a complex of hotels, golf resorts and residential areas in the country, close to the border with Cambodia. Information about this was given by Vietnam officials on Monday, October 6.

The complex $4 billion worth will occupy 200 hectares in the Border Economic Zone in Dong Thap province, 150 km west of Ho Chi Minh City. After the approval, the work on the project will start in 2009 and be completed by 2013. One of the proposed projects was building a casino and a helipad in the complex, but both these proposals were turned down by the province.

Huynh Van Sang, the director of the Planning and Investment Department of Dong Thap province, said that they are going to check the financial capability of Giant Group, which is the owner of the BVI company seeking to get the investment license. The Group is asked to send to the province the financial reports for the last three years as well as information about other projects they have invested in.

By words of Dang Van Hoang, director of Tourism Department of the province, this complex may contribute to the cross-border tourism activities between Vietnam and Cambodia.

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