The Gia Lai Economic Zone Management Board said on December 25 it had submitted a proposal to the provincial people’s committee to end the Phuong Mai Bay Resort project.
Phuong Mai Bay Resort project covers an area of more than 30 hectares on a beautiful beach in Nhon Hoi Economic Zone.
The project, located in Nhon Hoi Economic Zone, is developed by Phuong Mai Bay Joint Stock Company. It was approved in principle on September 10, 2018, and later adjusted on September 6, 2021, covering an area of more than 30 hectares.
It was designed as a high-end coastal eco-resort meeting international five-star standards, aimed at boosting local socio-economic development.
The approved plan included 600 five-star hotel rooms, 600 four-star rooms and 166 villa units, with implementation scheduled from July 2018 to July 2024.
However, progress has been extremely slow, despite repeated meetings, reminders and formal warnings issued by the economic zone management board.
According to the board, the investor has completed only a handful of items, including two show villas, sand barriers, a car park, staff housing and short sections of internal roads.
The investor has only completed a few facilities
On August 23, 2024, the board ordered a full suspension of the project for 12 months to allow the investor to address shortcomings. By the end of that period, the company had failed to report any corrective measures or explain the prolonged halt.
As a result, local authorities have moved to formally end the project, once expected to become a major highlight of Gia Lai’s coastal tourism development.
