The Ministry of Planning and Investment (MPI) has granted an operation licence to South Korea’s Lado Filter Engineering to build Ba Na Golf Course, the first in the central region.
The 100% foreign invested project has the registered capital of $12mil. The duration of the project is 50 years

As per the operation license, the Ba Na Golf Course will be built in accordance with international standards and located in mountainous communes in Hoa Vang District in Da Nang City. The investor will provide golf-related services, accommodation for golf players and other supporting services. It is expected to be completed in 2007.

According to Truong Hao from the Da Nang City Investment Promotion Centre (IPC Da Nang), in the first stage of operation, the Ba Na Golf Course will have 18 holes; however, Lado Filter Engineering plans to upgrade it into a 27-hole golf course later.

Mr Hao said that the city’s authority has agreed in principle to another project on a resort and Hoa Hai 36-hole golf course to be located on coastal areas. They will be invested in by Vinacapital.

IPC Da Nang hopes to attract $200mil worth of foreign direct investment in 2006. The city has licenced 12 new projects and two expanded projects so far this year totalling $159mil.

Mr Hao said that the city’s authority is considering several projects, including Vinacapital’s project capitalised at $150mil, the $30mil project on two 40-storey buildings for offices, apartments and an entertainment complex (to be invested in by a South Korean investor), and the $60mil project on a coastal resort (to be invested in by Indochina investment fund). It is highly probable that these projects will all be licenced this year.

Source: Vietnamnet