Cedar to slip into big plan

Cedar to slip into big plan Nhu Ngoc | vir.com.vn | Aug 13, 2012 13:22 pm The US-based Cedar Point International is ready to jump into the shoes of Polo Beach International and develop a giant recreation integrated resort project in Ninh Thuan province’s Mui Dinh tourism site. Pham Dong, director of Ninh Thuan’s Department of Planning and Investment, said Cedar Point International had filed an application with the provincial people’s committee to develop a hi-grade tourism project at the Mui Dinh site. “The developer even agreed to deposit $1 million for the project,” said Dong. No further information was revealed, but Dong said it would be a large project which could change Ninh Thuan tourism industry’s picture. Cedar Point International is a young firm founded in 2006 by a team of financial and operating executives to invest and operate in the world’s most promising emerging markets. In February, Ninh Thuan People’s Committee agreed in principle to allow Cedar Point International to develop this project. However, Dong said there were some procedures that needed to be addressed. Mui Dinh is where Hong Kong’s Polo Beach International proposed to develop a $4 billion casino integrated resort last year. According to the proposal of Polo Beach International, its project would cover 1,500 hectares, comprising resorts, casino facilities, high-rise villas, a golf course and other facilities. However, it was not approved by the government. “Cedar Point International’s project is smaller than the proposal of Polo and it does not include casino facilities,” said Dong. Located in central coastal region and closed to Khanh Hoa province with Nha Trang Bay, Ninh Thuan province has recently become a destination of some foreign developers in the tourism sector. American developer Livingston Group last month came to Ninh Thuan to survey Vinh Hy Bay and Chua Mount for building a high-class resort complex on 466ha and survey Doc Ham Ca Na area to build a Disneyland theme park on 1,500ha.