“VSP1” & Vung Tau Project Information:
In terms of our new 2019 Vung Tau Province project location for the "Lotus Park" "international horse racing & sports project", as Vung Tau Province is now home to 128 tourism projects, 19 of which are foreign invested, including, but not limited to the Grand Ho Tram Strip Casino & Resort which covers an area of 164 hectares with an investment capital of US$4.23 billion, and the Wyndham Resorts Kahuna “Ramada” 5 hectares resort which is adjacent to the casino, and the Greg Norman “Bluffs golf course” across the road, our Company agreed with both the Federal Ministries and the Vung Tau Government that this project relocation was necessary to ensure the project's success to benefit all parties, including the Vung Tau Province communities.
In terms of Vung Tau Province and FDI (foreign direct investment) into Vietnam, Ho Chi Minh City is No.1, followed by Vung Tau Province which is No.2, then Hanoi (the Vietnam Capital City), which is No.3, etc. In Vung Tau Province FDI was around US$927 Million in 2018 and accounted for around 26% of Vietnam’s total budget receipts, and in 2018, Vung Tau Province economic growth rate reached 7.2%.
In relation to Vung Tau Province in 2018, tourism turnover was around VND1.8 trillion or (US$86 million), with the Vietnam Government issuing a resolution in January 2018 on developing tourism too spearhead their economic sector by 2020, with the aim of contributing 10% to the country’s gross domestic product (GDP), up from the current 6.8%.
Therefore, our “Lotus Park” Project will compliment and expand Vung Tau Province Master Plan of increased tourism and sports facilities, as our project consists of a projected land usage of 147 Hectares with a projected cost of US$115,000,000-. Our vision is that this integrated "international horse racing & sports project" facility to be based within the Ho Tram Strip area of Vung Tau Province will be the finest in Vietnam representing the next evolution in that country’s sports and tourism industry.
“Lotus Park" Master Plan Design: