The Canada-based Asian Coast Development Ltd (ACDL) is to break ground for the construction of a 4.2-billion-USD resort on May 24, just one day after getting a license for Vietnam’s largest tourism venture. 
 

The Ho Tram Tourist Site will be built in the southern coastal province of Ba Ria-Vung Tau and have 9,000 luxury rooms and an entertainment site.

Once put into operation during the third quarter of 2010, the first phase of the project will see a five-star hotel with 1,100 rooms and a casino.

The second phase will be completed by 2011 with construction of a luxurious resort, a casino, 10 restaurants and a night club.

Construction of the entire project is scheduled to take 10 years.

ACDL’s CEO Paul Steelman described the project as one of their best opportunities for its location by one of the world’s most beautiful and cleanest beaches.

The New York Times selected Vietnam as one of the 53 most attractive destinations in 2008.

The country has moved up from the sixth to the fourth place in the World Travel and Tourism Council’s ranking in regard to the world’s fastest-growing tourism destinations.

In the first four months of 2008, foreign arrivals reached almost 1.7 million, up by 16 percent over the same period last year.

The same growth rate was recorded last year when 4.2 million foreign visitors were reported.

(Source: VNA)