The People’s Committee of the north central province of Quang Binh on Friday granted investment certificates to two complexes of 12 golf courses.
The two complexes’ investment invitation is in the province’s tourist development strategy towards a tourist center of Vietnam as per international expert advices, according to the committee.
FLC Group will build the first complex comprising 10 golf courses at a total capital of VND1 trillion (US$46.03 million). In addition, it will also build other works such as resorts, villas and amusement site at VND8.5 trillion there (US$391.25 million).
An Viet Company will construct the second one including two golf links at VND750 billion (US$34.52 million).
The two golf course complexes will locate over a sandy zone in Quang Ninh and Le Thuy districts, where have been without any agricultural production or other economic activities for the last hundreds of years.
Seventy percent capital of the two projects will be financed by the Bank for Investment and Development of Vietnam.
If the Government approved, the first project would break ground by the forth quarter this year, said FCL group deputy director general Dang Tat Thang.
The 10 golf courses would be built first within one year, the other items were expected to complete in three years, he said.