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According to the Khanh Hoa provincial online portal, on the afternoon of June 9th, the leaders of Khanh Hoa province held a working session with the Inter Pacific Group (IPPG). During the meeting, IPPG representatives expressed their desire to invest on a large scale in key industries in the North Van Phong area (Khanh Hoa).
Typically in the tourism sector, IPPG aims to invest in an entire system including: casinos, shopping malls, high-end hotels and resorts, entertainment areas, and sports facilities. In addition, the group also invests in residential and industrial areas; infrastructure for energy and information technology; clean water supply; wastewater treatment; telecommunications, etc.
Specifically, there are also several sectors such as: international airports, roads; port areas serving maritime transport, passenger transport, and docking for international cruise ships; logistics serving inter-provincial transport systems, multi-functional logistics centers…; and a green environment system to plan a green network connecting parks.
"We have been studying this area for two years; with the potential for joint ventures with major global investors, IPPG is committed to attracting $40 billion in investment to Bac Van Phong. IPPG will not invest all $40 billion itself, but we will invite global billionaires to invest according to their respective strengths," Mr. Jonathan Hanh Nguyen pledged.
Speaking at the meeting, Mr. Nguyen Tan Tuan, Deputy Secretary of the Provincial Party Committee and Chairman of the People's Committee of Khanh Hoa province, said that the North Van Phong area is gradually developing its infrastructure; national security and defense are ensured; the planning has been approved by the Prime Minister; and there are no obstacles in the management mechanism…
"Therefore, Khanh Hoa province warmly welcomes investors interested in investing in several areas such as: building 5-star hotels in the three communes of Van Khanh, Van Phuoc, and Van Long (Van Ninh) to meet the accommodation needs of experts coming to work in Khanh Hoa; and developing tourism in the Hon Gom peninsula area, including Diep Son," Mr. Tuan said. Concluding the meeting, Chairman Nguyen Tan Tuan stated that the investor's proposal would be drafted and approved by the Standing Committee of the Provincial People's Committee for a memorandum of understanding.
IPPG is a retail group in Vietnam, holding nearly 70% of the market share for international luxury goods distributed domestically. IPPG currently has 17 member companies and 18 joint ventures and affiliated companies. In Khanh Hoa province, IPPG is also one of the investors in the construction of the Cam Ranh International Airport terminal, built to 4-star standards with a total investment of nearly 4,000 billion VND, which was inaugurated in June 2018.
