Ba Ria - Vung Tau welcomes another 1 billion USD in project investment from the US financial giant

On May 15, at The Grand Ho Tram resort complex (Xuyen Moc district, Ba Ria - Vung Tau province), the groundbreaking ceremony of a new subdivision with a scale of 35 hectares and a total investment of more than 1 billion USD took place. Attending were Mr. Nguyen Van Nen - Secretary of the Ho Chi Minh City Party Committee, Mr. Pham Viet Thanh, Secretary of the Ba Ria - Vung Tau Provincial Party Committee, and leaders of Ho Chi Minh City, Binh Duong and Ba Ria - Vung Tau.

Chairman of Ba Ria - Vung Tau Provincial People's Committee Nguyen Van Tho spoke at the ceremony.

At the groundbreaking ceremony, Chairman of the People's Committee of Ba Ria - Vung Tau province, Nguyen Van Tho, said that The Grand Ho Tram is one of the province's key resort tourism projects, which has been systematically implemented, playing a leading role and creating momentum for local tourism development.

“The groundbreaking of the new subdivision with a total investment of about 1 billion USD demonstrates the strong confidence of US investors in the potential of the Ba Ria - Vung Tau market. This is also a vivid demonstration of the increasingly good comprehensive cooperation relationship between Vietnam and the US, especially in the fields of economics , trade, investment and tourism,” Mr. Tho emphasized.

The Chairman of the Provincial People's Committee pledged that the local government will accompany the investor, create the most favorable conditions in removing difficulties, speeding up the processing of administrative procedures so that the project can be implemented quickly and effectively, contributing unique tourism products to Ba Ria - Vung Tau and Ho Chi Minh City.

Mr. Stuart Haine, representative of Warburg Pincus - one of the leading financial groups in the United States - affirmed his commitment to long-term investment in Vietnam. He said that the investment of more than 4 billion USD in the Ho Tram project is a testament to his firm belief in the development potential of the locality and the Vietnamese tourism market.

Warburg Pincus is also an investment partner in many large enterprises in Vietnam such as Vincom Retail, BW Industrial, Techcombank, MoMo e-wallet and Xuyen A Hospital system.

The groundbreaking of the new subdivision not only expands the scale of The Grand Ho Tram resort complex but also marks an important step forward in the orientation of building Ho Tram into an international-class resort and entertainment destination in Vietnam.

Luong Y

Source: https://vtcnews.vn/ba-ria-vung-tau-don-them-1-ty-usd-dau-tu-du-an-tu-ong-lon-tai-chinh-my-ar943321.html