Vietnam Approves US$9.3bn Can Gio Tourist City Development

• 11 September 2020
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A US$9.3bn housing and tourist resort at Can Gio has been approved for development by the government of Vietnam.

The planned development is situated on a 760-sq km mangrove forest 40km south of Ho Chi Minh City (HCMC) and is being led by the Can Gio Tourist Urban Joint Stock Company, a subsidiary of Vinhomes, the second-largest public company in Vietnam.

The showcase Can Gio Tourist City will be a 2,870ha urban quarter built mainly on reclaimed land, an area which has long been isolated from HCMC given its mangrove island location.

First touted in 2000 before Vinhomes took the project over, the proposal has long been opposed by environmental groups which are concerned about the impact on the mangrove forest of housing for 230,000 people and hotel space for up to 9 million visitors a year by 2031.

However, the Vietnamese government sees the project as a concrete means of tackling the impact on tourism caused by the coronavirus pandemic.

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