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US investors want to build Disneyland in Ho Chi Minh City: Vietnamese tycoon

US investors want to build Disneyland in Ho Chi Minh City: Vietnamese tycoon

Saturday, February 19, 2022, 11:02 GMT+7
US investors want to build Disneyland in Ho Chi Minh City: Vietnamese tycoon
Johnathan Hanh Nguyen, business tycoon and chairman of IPP Air Cargo Joint Stock Company, speaks at a discussion held in Ho Chi Minh City, February 17, 2022. Photo: A.H. / Tuoi Tre

A number of American investors have proposed building world-famous theme parks in Vietnam, including a Disneyland in Ho Chi Minh City, Johnathan Hanh Nguyen, business tycoon and chairman of Imex Pan Pacific Group (IPPG), told a discussion held in the southern city on Thursday.

The event, organized by Nguoi Lao Dong (Laborers) newspaper, focused on creating a breakthrough for the economic development of Vietnam and Ho Chi Minh City.

Construction of two other theme parks, Universal Studio in Hanoi and SeaWorld in south-central Khanh Hoa Province, has been also proposed by the U.S. investors, according to Nguyen, whose IPPG is well known as one of the biggest multi-business corporates in Vietnam operating in different fields, including fashion, F&B, real estate, and non-aviation services.

The three projects are part of a master plan to establish a financial center in Vietnam that the Vietnamese tycoon and his U.S. partners have been working on since 2016 and have come up with a timeline for implementation.

“A U.S. consulting unit is taking responsibility for the research and construction of this plan,” Nguyen said.

American consultants have initially appraised the plan for its feasibility, according to him.

Competent Vietnamese ministries and agencies are also expected to give suggestions to the project.

“Once the plan is approved, according to the U.S. investors’ initial commitment, they will first pour about US$10 billion into Vietnam, of which $4 billion will be allocated to Da Nang and $6 billion to Ho Chi Minh City,” Nguyen said.

“In addition to the written commitment worth $10 billion by the U.S. investors, we have more than 68 documents and letters exchanged with the U.S. Congress and leaders of the two countries [regarding the proposal]. 

“The U.S. investors estimate that the Disneyland in Ho Chi Minh City will attract 25 million tourists a year while the Universal Studio in Hanoi will also draw 25 million visitors, and the SeaWorld in Khanh Hoa Province will bring in 20 million holidaymakers.”

The Ho Chi Minh City administration has assigned the Ho Chi Minh City Finance and Investment state-owned Company (HFIC) to collect opinions from experts in preparation for a report to submit to the government, the State and the Party for consideration. 

HFIC chairman Nguyen Ngoc Hoa said the firm has completed the consulting with experts and created an outline of the master plan.

It is expected that the report will be available on the authorities' table in April.

Hoa also emphasized the importance of streamlining public administrative procedures to facilitate the implementation of the master plan. 

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Bao Anh - A.Hong / Tuoi Tre News


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