Tuesday, December 16, 2008

$600mil Cat Ba resort project seeks investors


The resort, on Hai Phong's Cat Ba island, will cover 304ha with an expected construction density of 17.4%.

Viet Nam News reporter Phi Hung asked project director Tran Ngoc Quang about the effort to boost investment.

* You're seeking both domestic and international investment. What type of investment is suggested and how will investors benefit from putting their money into the project ?

We suggest two major types of investment: Either 100% foreign capital or the establishment of a joint-venture company between Viet Nam Construction and Import and Export Corporation (Vinaconex) and investors.

Investors will have the benefit of several incentives. These include exemption from land-use fees; land-use tax and a five-year exemption from corporate tax.

We are committed to ensuring that investors will pay the lowest initial investment cost against all other real-estate and tourism projects in Vietnam. This is because the Government and local authorities consider the project of great importance to Vietnam's tourism industry.

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