On November 17, Nam Hoi An Development Company Limited sent an official dispatch to the People's Committee of Quang Nam province requesting guidance on procedures and policies for investment in the construction of an Outlet Mall and Duty-free Center within the scope of phase 2 of the Nam Hoi An Resort project.
This project was granted an investment certificate in 2010. Phase 1 of the project includes main works such as commercial area and tourist apartments, casino and resort hotel, 18-hole golf course which has been completed and put into operation since the second quarter of 2020.
Therefore, in phase 2 of the project, in addition to focusing on investing in and building low-rise beach villas, low-rise golf course villas towards the sea, and gateway commercial and service areas, Nam Hoi An Development Company Limited also plans to invest in building an Outlet Mall and Duty-free Center, combined with a resort apartment building, at the southern gateway on Vo Chi Cong Street.
The outlet and duty-free center has a construction area of 3.89 hectares, the tourist apartment building has an area of 0.22 hectares.
Proposal to build an outlet and duty-free center by Nam Hoi An Development Company Limited (Screenshot).
The business side said that there are currently no specific regulations on procedures, policy mechanisms and necessary licenses for outlet centers as well as investment in developing this type in Vietnam. However, in the world , this form of business has been and is developing very well, bringing many benefits to both manufacturing enterprises and consumers.
Mr. Nguyen Nhu Cong - Chief of Office of Quang Nam Provincial People's Committee - said that after reviewing the proposal of the investor of Nam Hoi An resort project, Quang Nam Provincial People's Committee assigned the Department of Planning and Investment to preside over and coordinate with relevant departments, branches and units to study current legal regulations to guide the company to carry out the documents and procedures according to its authority.
"In case of difficulties, problems or exceeding authority, promptly report to the authorities for guidance on settlement in accordance with regulations," Mr. Cong informed.
Hoiana Resort is invested and developed by Nam Hoi An Development Company Limited (a joint venture between VinaCapital investment fund and Genting Group of Malaysia).
Genting then withdrew due to failure to reach an agreement allowing Vietnamese people to play in casinos. Genting was replaced by Suncity Group (later LET Group).
In late July, the Straits Times reported that the Cheng family of Hong Kong (China) billionaires had taken control of the Hoiana Resort & Golf casino resort in Quang Nam province, Vietnam. Control was transferred after Macau "casino king" Alvin Chau (owner of the former company) was imprisoned earlier this year.
The Cheng family is the third richest family in Hong Kong, owning the Chow Tai Fook jewelry chain and the New World Development group.
The resort features a casino with 140 gaming tables and more than 350 slot machines, a golf course and luxury hotels under the Cheng family’s New World and Rosewood brands. Many other infrastructures are being built to complete the resort, with a total investment of about 4 billion USD (about 94,670 billion VND).
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