CapFin Asia’s director Daniel Berke revealed the firm’s plan last week in a meeting with the local officials.

Nguyen Que, deputy head of the Chan May-Lang Co Economic Zone Management Authority confirmed the project proposal with VIR and added that the project was expected to cover 200 hectares.

“The potential investor said they would carry out a feasibility study for this project within the next six months and conduct planning before applying for an investment certificate,” Que said.

According to Que, CapFin Asia’s proposal matches the government plans for the area and would be particularly suitable for the Chan May-Lang Co Economic Zone.

Located between the central cities of Hue and Danang, and located on the Central Vietnam Heritage Road which includes attractive tourist destinations of Phong Nha-Ke Bang National Park, Hue, Hoi An and My Son, and located on the East-West economic corridor, the Chan May-Lang Co Economic Zone is regarded as one of 15 important coastal economic zones throughout the country.

Over the past six years, Lang Co has witnessed dramatic socio-economic development with revenues from the local tourism sector increasing by 25-30 per cent, with the area witnessing 95,000 visitors per year.

The Chan May-Lang Co  Economic Zone has so far attracted 34 investment projects with the combined registered investment capital of $2.28 billion, comprising of 10 foreign-invested projects capitalised at $1.3 billion and 24 domestic projects worth $968.5 million. Large projects in the zone include the Laguna Lang Co integrated resort developed by Laguna Vietnam, a subsidiary of Singapore’s Banyan Tree Group with the total registered investment capital of $875 million.