Investors told to get a move on

BINH THUAN, 23 August 2012: Binh Thuan’s Department of Culture, Sports and Tourism said it is reviewing 400 tourism projects and intends to cancel permits on those that have not made progress.

The department director, Ngo Minh Chinh, said less than half of over 400 tourism projects licensed in Binh Thuan were active and the provincial government would go ahead and revoke inactive or slow-moving projects.

“We have revoked seven projects so far this year, which should serve as a warning to slow-moving projects. Around 200 investors of slow-moving projects say they are completing procedures, paying land compensation or upgrading project specifications.”

The investment capital poured into Binh Thuan’s tourism has amounted to nearly US$2.7 billion, mainly in Phan Thiet with 225 projects, Ham Tien with 80 projects and Mui Ne with 68 projects.

Most of the province’s coastal areas, particularly in southern districts, have been allocated to investors to develop tourism related projects.

The province is now calling for investments in remote areas starting with the Bung Thi hot springs in Ham Thuan Nam district and the Ham Thuan-Da Mi area in Ham Thuan Bac district.

“Each of these areas covers thousands of hectares. The province is calling for investments and we are targeting investors who develop large-scale tourism zones,” the director said.

Binh Thuan province welcomed over 1.89 million tourists during January to July this year, up 14.9% from the same period last year. The province’s tourism obtained over US$123.41 million in revenue in the period, increasing by nearly 42.4%.

The southern province is 169.74 km from Vietnam’s commercial capital, Ho Chi Minh City and is a popular tourist destination for domestic travellers and has potential to attract tourists from ASEAN.

Sourced: ttrweekly