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The Central Highlands province of Lam Dong has allowed local groups to make a plan to develop a big resort city project worth more than US$1bil in Dankia-Suoi Vang in the province's Dalat City.
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A bird-eye view of the Dankia-Suoi Vang area in the hilly resort city of Dalat. |
Under the tentative agreement, the provincial government will allow the Vietnam Rubber Group, Vietnam National Textile and Garment Group (Vinatex), Vietnam Housing and Urban Development Group and others to prepare a master plan on developing the project on 5, 000 hectares in Lac Duong District.
The groups will formulate ideas to develop the project into a "resort city" some 20km from Dalat City to serve local and foreign tourists.
Eleven years ago, Dalat-Dankia Holding Ltd. was set up as a joint venture between three Singapore companies and a local partner to develop the project at a cost of US$706mil.
But the foreign investors failed to carry out the project, prompting the Ministry of Planning and Investment to revoke the license in early 2005.
(Source: SGT)
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