With numerous golf courses popping up all over the country, it looks as if golfing is coming of age in Viet Nam.
A US$100 million tourist area covering 2185 hectares in Ha Noi’s neighboring province of Ninh Binh will include a 740 hectare, 54-hole golf course.
The new golfing Mecca will be developed by the Investment Consultant and Enterprise Support Service Joint Stock Company (INCONESS). Divided into three phases, the first of which kicked off at the beginning of this month, the project is expected to be completed by 2015.
Construction of another 27-hole golf course in the city of Hai Phong will begin in September. The US$17.3 million project invested by Korea’s Mibaek Industrial Company is expected to come into operation by the end of 2008.
Meanwhile, the Global Petro Commercial Joint Stock Bank (GP-bank) along with the Central Investment Joint-Stock Company and a Korean firm will join hands to the tune of US$100 million to develop an 80 hectare resort in the Mang Den ecotourism area of Kon Tum Province. Along with the resort, a 100 hectare, 18-hole golf course will also be built. Construction of the two facilities will begin early next year.
Several Korean firms have also previously registered to invest in golf courses in Viet Nam including East Asia Air Express Company’s 300 hectare Long Son golf course in Hoa Binh (worth US$20 million for the first phase alone) and Lade Filter Engineering’s US$12 million investment in the Ba Na golf course in Da Nang.
Korean Firm Gets Golf Course License