Deputy Prime Minister Trinh Dinh Dung has approved the investment in two golf courses worth over VND1 trillion in Quang Nam and Lao Cai provinces.
According to the decision, Vinpearl Joint Stock Company is to act as the investor for Vinpearl Quang Nam golf course in the central province of Quang Nam. The project is set to cover 70.35 hectares of land in Thanh Binh District.
The projected 18-hole golf course, built with an investment of VND500 billion, is expected to operate for 50 years, VnEconomy news site reported.
The Lao Cai golf course project developed by Fansipan Sapa Company is scheduled to locate in Ban Qua Commune, Bat Xat District in the northern upland province of Lao Cai, sprawling an area of 80 hectares.
By 2020, the country will be home to 89 golf courses, in line with the prime minister’s Decision 1946 dated November 26, 2009 on planning golf courses in Vietnam.
After 10 years, however, the golf planning policy has confronted some bottlenecks.
Statistics from the Ministry of Planning and Investment indicate that the country has only put into operation 30 golf courses, to date. Also, some of these golf courses have faced financial losses.
Also, some localities have asked for permission to withdraw golf courses from the plan, while others seek to develop new golf courses.
However, in August the Government issued a list of 24 expired zoning plans for industries, including the planning of Vietnam’s golf courses up to 2020. SGT