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Dragon Beach Project: Viet Nam

The People’s Committee of the central province of Quang Nam has asked the Government for an investment licence worth US$10 billion for a casino beach resort project. The investment comes from the American company Global C&D Inc, Tano Capital and Greater China Corp. According to Chairman of the Quang Nam People’s Committee, Nguyen Duc Hai, the project, named Dragon Beach Casino Resort, would be the largest tourism project in the central and Central Highlands region. Investors and local authorities have been working on the project for the last few years. Under the proposal, the luxury sea resort would include hotels, casinos, one(1) mile of beach front, a trade centre, a convention centre, a golf course and entertainment facilities to be built over 460ha in the Dien Ban District. About $9 billion would be invested in nine hotel-casino complexes, covering 200ha. A $400 million international convention centre is also planned, covering 30ha. Another $140 million would go to 20ha of high-grade hotels. Plans also call for a golf course, community sport zone and country club, covering 20ha, at a cost of $100 million. The commercial and retailing centre would be built over 20ha, at a cost of $140 million. Investors agreed to lodge investment deposits in line with regulation. With the proposed project requiring the resettlement of current residents in the area, the first phase of the project would focus on building a high quality resettlement area, covering 60ha of the project site. Investors promised to ensure that each household in the project site would be given a free 150sq.m apartment, and try to have at least one member of each household trained and employed by the project.

The official signing of approval for this project will be signed on October 1, 2009 in Hanoi, VN. Attending this historic event will be the PM of Vietnam, John W. Allen of GCC(Greater China Corp), Charles Johnson of Tano Capital and Tong Phan of Global C&D.