Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee and PPC Chairman, comrade Do Huu Huy held a working session with CenGeo New Energy FZ-LLC Company to discuss a proposal to study investment in Vung Ro Bay Tourism and Resort complex project.

Overview of working session.

CenGeo New Energy FZ-LLC, a subsidiary of UAE - based CenGeo Holding Group, operates in the energy and oil as well as gas logistics sectors, with a large-scale storage system in the Middle East. The company is currently expanding into high-end real estate and resort tourism.

According to the proposal submitted by the investor consortium, the initial phase of Vung Ro Bay Tourism and Resort complex project will cover approximately 185ha in Hoa Xuan commune. The project is designed as an integrated high-end coastal resort complex featuring hotels, resort villas, entertainment facilities along with beachfront service areas.

The investor representative described the project as strategically significant and pledged to implement it on schedule alongside in compliance with legal regulations, backed by sufficient financial capacity and a long-term development orientation. The investor also stated that the project would not involve land subdivision for sale or speculative real-estate development.

PPC Chairman, comrade Do Huu Huy welcoming the interest shown by international investors in exploring investment opportunities in the locality.

PPC Chairman, comrade Do Huu Huy welcomed the interest of international investors in the locality. He stressed that the project aligns with the provincial strategy prioritising development of high-quality marine tourism and service sectors.

As the project is large in scale along with involves multiple technical as well as legal requirements, the Chairman requested that the investor further clarify the relationship among participating enterprises and provide more detailed evidence of financial capacity to ensure feasibility during implementation.

The Chairman assigned Phu Yen Economic Zone Management Board to coordinate with relevant departments and agencies in accelerating appraisal procedures combined with promptly finalising the zoning construction plan for approval. Once the planning scheme receives approval, the province will guide the investor through subsequent procedures in accordance with legal regulations.

Translated by KHUONG THAO