Apr 24, 06 | 12:41 pm

The Vietnamese tourism industry is getting a major boost with the announcement the government has granted a license to US based Wininvest Group to develop a US$300 million tourism complex in central Vietnam. To be sited at Cua Lap, in the central coastal Ba Ria-Vung Tau province, the Sai Gon-Atlantis Tourism Complex will be built on a 450ha site.
"The site is the biggest foreign tourism project in Vietnam," agency director Phan Huu Thang told reporters.
"Construction will be completed within five years," said Tran Van Son, company representative, who confirmed discussions with the Vietnamese Ministry of Planning and Investment for the project began in 2004.
The project is divided into three phases and will consist of a five-star hotel, villas, golf course, trade centers and entertainment areas.
The first phase, estimated to cost 50 percent of the total investment will be spent on the construction of Saigon Atlantis Hotel, a 1,200 room five star hotel complex and casino.
The second phase will see the construction of a luxury restaurant, golf course, villas, bank and a helicopter pad.
By the completion of its third phase, locals are expected to patronize its water park, swimming pools, theatre, luxury shopping malls, duty-free shops and exhibition area.
The international standard project is expected to lure foreign tourists and boost the country's tourism industry.
The project is expected to provide up to 20,000 local jobs.

By Y. Sulaiman l eTN Asia