A Vietnamese company and its international partners have decided to invest $500 million into real estate projects in Vietnam, among which a spiritual tourism project in Yen Tu is the most significant.
 |
| The signing ceremony |
 |
| Design concepts of some components of the Viet Lotus project |
The investment contract signing ceremony for Viet Lotus project took place yesterday, April 12, in Hanoi, with an amount of nearly VND 10 trillion (USD500 million) to be invested, among Vietnam's ATS Investment Joint Stock Company and other investors representatives from America, Hong Kong and mainland China: Mr. Garth Smaller B. - General Manager of ABI, Mr. Natanieng - General Manager of Royal Star International (RSI), Mr. Tsanghoi - General Manager of RSI International and Mr. Siu cheng - international advisor of the Yen Tu project.
According to the signed contract, the investment will be used for the development of the Viet Lotus project in Yen Tu, Uong Bi Town, Quang Ninh Province, and other ongoing projects that ATS is currently developing. The Viet Lotus project alone has already had an initial investment capital amount of VND 2.6 trillion (USD136 million), which is planned to be increased to VND4.6 trillion (USD242 million).
Ms. Nguyen Thi Thoa, ATS' General Director, said: "Viet Lotus is a major spiritual tourism project that will hold importance in value to Vietnam as a potential cultural heritage site. The project is to be located in Yen Tu, the spiritual heart of Vietnam, covering an area of 700 hectares of land and is divided into two parts Gold Lotus and Silver Lotus with many hotels, villas, convention centre, traditional village, countryside market, royal garden and area for international ambassadors. In term of its architecture design, the whole urban area will be built in accordance with features that uniquely embraces Vietnamese culture and Buddhist style during Ly and Tran dynasties."
Upon completion, the project will be the perfect location for many national and international events as well as Buddhist events, exchange programmes, and festivals. The project is anticipated to be completed in 2015, five years after being approved and putting into implementation.
According to Ms. Thoa, the project will not be limited to Quang Ninh Province but act as part of the national pride to the world. The Viet Lotus tourist urban area, despite its tourism purposes, is going to lay a foundation to honour the local's relics and spirituality. The historian Mr. Nguyen Vinh Phuc, who was present at the ceremony, completely endorsed the project. He said the project will help to promote Vietnam's culture to international friends, and emphasised that Vietnam needs this project, that tradition can only be maintained if readjusted to the modern life.
Previously, on April 10, the project was introduced to the Vietnam Buddhist Sangha and was greatly acclaimed. Superior Monk Thich Thanh Tu, Vice President of the Steering Commitee of the Vietnam Buddhist Sangha, expressed hopes that the Viet Lotus project, together with Bai Dinh Pagoda, will honour and remind of a golden period of the Vietnamese Buddhism during Ly and Tran dynasties.
