At the ceremony
The ceremony was attended by Nguyen Van Nen, Secretary of the Ho Chi Minh City Party Committee; Pham Viet Thanh, Secretary of the Ba Ria-Vung Tau Provincial Party Committee; and Nguyen Van Tho, Chairman of the Ba Ria-Vung Tau People's Committee.
Also present were representatives from the US-based Warburg Pincus Fund, Don Lam – CEO and founding shareholder of VinaCapital Group, and Walt Power – CEO of The Grand Ho Tram.
Secretary of the Ho Chi Minh City Party Committee, Nguyen Van Nen (right) presents flowers from General Secretary To Lam to the investors at the event.
This new subdivision is part of the larger Grand Ho Tram project, which has a total investment exceeding USD4 bn.
According to the developer, the subdivision will include a five-star hotel complex, resort villas, entertainment facilities, a casino, and an international convention and exhibition center. The project will offer over 6,000 rooms, accommodating around 18,000 guests per day.
The investor expects that ongoing infrastructure developments, such as the Bien Hoa-Vung Tau and Ben Luc-Long Thanh expressways, will shorten travel time to Ho Tram.
Notably, the Long Thanh-Ho Tram expressway project is currently undergoing investment procedures and is expected to break ground on September 2. This project promises to significantly boost tourism in Ho Tram and surrounding areas.
Speaking at the event, Nguyen Van Tho, Chairman of the Ba Ria-Vung Tau People's Committee, emphasised that tourism is one of the province's key economic pillars. He stated that this project is the result of effective collaboration between local authorities and businesses on initiatives of national and international importance.
The groundbreaking also reflects Warburg Pincus’s long-term investment commitment and underscores the economic and tourism cooperation between Vietnam and the United States.
