FLC Joint Stock : Group plans to invest $220 million in Nghe An

At a recent working session between FLC Group and authorities of Nghe An province at the group's headquarters, FLC Group announced a plan to invest 5 trillion dong ($220 million) in a hospitality and entertainment complex in the central province.

FLC Group on May 16 had a meeting with the People's Committee of the central province of Nghe An on investing in a hospitality and entertainment complex, to be named FLC Nghe An, in Nghi Tien commune, Nghi Loc district. The two sides had reached an in-principle agreement on the project in the previous meeting at FLC Group's headquarters in Hanoi.

Participating in the working session were Nguyen Dac Vinh, member of the Communist Party of Vietnam's Central Committee, Secretary of the Provincial Party Committee; Nguyen Xuan Duong, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee; Huynh Thanh Dien, Vice Chairman of the Provincial People's Committee; and representatives from provincial Departments of Planning and Investment, Finance, Natural Resources and Environment, Construction, the Dong Nam Economic Zone, the Investment Promotion Center, and Nghi Loc district.

FLC Group was represented by Chairman Trinh Van Quyet, Vice Chairwoman Huong Tran Kieu Dung and other executives.

According to a memorandum of understanding signed between FLC Group and the Nghe An People's Committee on February 19, 2017, FLC will build a hospitality and entertainment complex on an area of 570 ha with a total investment of 5 trillion dong ($220 million) in Nghi Tien commune, Nghi Loc district.

Leaders of Nghe An province at the working session.

This locality owns a wonderful beach and a favorable location in economic and cultural exchange with other localities in the country and overseas by air, sea, road and railway.

The project embraces a five-star 1,000-room hotel, coastal resorts, luxury villas, a 1,500-seat international convention center, an entertainment compound, 18-to-36-hole golf course, and auxiliary infrastructure. Once completed, this complex is expected to become a highlight of architect and tourism service in Nghi Loc district in particular and Nghe An in general.

During the meeting, FLC Chairman Trinh Van Quyet proposed the Nghe An government allow the group to conduct planning for the project.

The group also asked the local government to hand over site to the investor in the shortest time as possible, invest in boundary infrastructure that links the project, facilitate investment procedures, and support the investor in acquiring licenses at government agencies.

FLC committed to start construction right after site is handed over.

In response to FLC's proposals, the Nghe An authorities pledged to create the best conditions for the group to complete the required procedures, regularly review the process to remove obstacles. The government will thoroughly revise the propose site and give the feedback soon to FLC.

At the conclusion of the meeting, FLC Group and the Nghe An authorities agreed in principle on the project.

The Nghe An authorities hand a gift to FLC Group.

FLC Nghe An will be the seventh complex of the resort property chain developed and under development by FLC Group: FLC Samson, FLC Quy Nhon, FLC Vinh Phuc, FLC Ha Long, FLC Do Son and FLC Quang Binh. With the sizable project in Nghe An, FLC Group is expect to made a breakthrough in building a local tourism brand name for domestic and foreign tourists.

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