Hanoi (VNA) – Deputy Prime Minister Trinh Dinh Dung has given the nod to the policies of developing three golf courses with a total investment of more than 3 trillion VND (129.3 million USD).
Two golf courses would be in Viet Yen and Lục Nam districts of Bac Giang province and one in Ky Son district, Hoa Binh province.
Truong An Golf Investment Joint Stock Company would be the investor of the 36-hole golf course in Viet Yen district which would cover 140 hectares in Huong Mai and Trung Son communes. The project would have an investment of more than 1.2 trillion VND.
The golf course in Phuc Tien commune, Ky Son district would be developed by An Viet Hoa Binh Golf Joint stock Company on an area of 200 hectare with a total investment of 1.1 trillion VND.
Truong An Luc Nam Golf Joint Stock Company would be the developer of the golf and tourism complex in Luc Nam district with a 36-hole course of international standards and an investment of 739 billion VND.
Vietnam has around 50 golf courses across the country.
Decree No. 52/2020/NĐ-CP which came in force on June 15 was the first Government decree about investing and running golf courses.
In the context that a number of golf course projects were stagnating, the decree regulates that the developer would have at most 36 months to complete an 18-hole course and 48 months for others./.