US company drops plans to build Nha Trang underwater resort

An American company has abandoned plans to build an underwater resort and spa that would have hosted the 2010 Miss Universe Contest and create a flower street for next year’s Sea Festival, both in Nha Trang. 

An artist's impression of RAAS's resort and spa project in Hon Tre Island, Nha Trang

Le Xuan Than, deputy chairman of the Khanh Hoa Province People’s Committee, announced Wednesday the Vietnamese-American company RAAS’s decision to back out.
When asked recently by the Ministry of Culture, Sports and Tourism about the VND740-billion (US$44 million) project, Mr. Than had said RAAS had yet to make a formal proposal.
On October 8, at a meeting of the 2009 Sea Festival organizing board, he announced that two new Vietnamese records would be set during the festival, one of which would be the longest street bedecked in flowers.
A 15-kilometer stretch of Nguyen Tat Thanh Street between Cam Ranh Airport and Nha Trang City was to have been decorated with flowers.
The first Sea Festival was held in Vung Tau in 2003 and coastal towns have since taken turns to hold the biennial event meant to attract international and local tourists.  

By V. Ngoc – Translated by Phuong Lan

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