Hong Kong Firm Look to Invest in $2 Billion Entertainment Project in South Vietnam

Tuan Minh

23:24 15/06/2017

BizLIVE - A Hong Kong company is seeking incentives to invest in a $2-billion recreation project in southern Vietnam that has advanced at a snail’s pace.

Hong Kong Firm Look to Invest in $2 Billion Entertainment Project in South Vietnam

A perspective view of the HappyLand project.

Hong Kong-based Summerfield Co. has expressed interest in joining a $2-billion recreation project in the southern province of Long An that has been carried out sluggishly.
At a recent meeting with local authorities, Francois Da Pan Shih, chairman of Summerfield, said he had studied thoroughly the project and expected to receive incentives before deciding to step in the HapplyLand recreation complex project.
Chairman Tran Van Can of the provincial People’s Committee hoped the domestic investor could find a foreign partner to quickly put the project into operation. He also pledged to facilitate such an investment.
HappyLand is a recreation and hospitality complex, located adjacent to National Road No. 1A and the Ho Chi Minh City-Trung Luong expressway. The location is the gateway to Vietnam’s Southwest region, linking HCM City and Mekong Delta provinces.
Phu An broke the ground on the project in 2011. The first phase was set to be carried out in an area of 338 hectares at a cost of $2 billion. The second phase would cover 580 hectares.
Under the initial plan, construction of the first phase was planned to last 39 months and the complex would be open to the public in April 2014. However, it was not until April 2016 that the first premise, a motor-auto racing track stretching 13 hectares, was inaugurated.