After 5 years of granting the policy of a 275 m high mountain resort at the Quy Nhon gateway, Binh Dinh terminated the project because the business wanted to stop.
On June 7, Mr. Le Hoang Nghi, Director of Binh Dinh Department of Planning and Investment said that the provincial People's Committee has assigned the department to carry out procedures to terminate the investment in Ba Hoa Mountain Resort and Villa project with a total capital of 6 billion VND by Ba Hoa Mountain Joint Stock Company.
Ba Hoa Mountain - where the tourism project stopped after 5 years of granting the policy. Image: Dung Nhan
The project was granted the first investment policy in June 6 with the goal of building Quy Nhon city observation points from above, building resorts, attractions, craft village tourism, farms, dining, and motels. The deployment area is 2018 hectares with a total capital of 6,4 billion VND, implemented until 180.
The project was once expected to change the face of Ba Hoa mountain area, a 275-meter high mountain in the middle of Quy Nhon city that currently only grows acacia, eucalyptus trees and a number of illegally built houses.
However, after two years of being granted the policy, the investor has not yet implemented it. By August 8, Binh Dinh province adjusted the project, increasing the area to 2019 hectares, with a total capital of 9,6 billion VND, the progress was extended to 255. However, the investor still did not continue the project.
The leader of Binh Dinh Department of Planning and Investment said that the investor would like to voluntarily stop implementing the Nui Ba Hoa project because of difficulties caused by Covid-19.
Binh Dinh Provincial People's Committee will plan to organize bidding and select new investors to implement the project in the coming time.
