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Century 21 Co. to build $20 mln resort in central Vietnam
Century 21 Joint Stock Co. will join hands with its Russian partner to build a luxury resort in the central coastal province of Khanh Hoa.
Bai Dai Resort Co. Ltd., the 7:3 joint venture between the local resort developer and Soleman Services S. A., is expected to build a VND417.4 billion ($20 million) resort in the coastal city of Cam Ranh.
The $20 million investment is the initial money needed for the first phase of the project, located on the most beautiful beach in Nha Trang Bay, one of the 29 most beautiful bays in the world, said the joint venture.
The VND84.5 billion ($4 million) joint venture, which has been licensed by the municipal authorities, expects that, along with the neighboring Thap Ba - Nha Trang hot spring, the resort will be a favorite destination of domestic and foreign tourists, especially the increasing number of Russian tourists.
Vietnam has become a popular destination for Russian tourists not only in winter but also during the summer season.
With between 18,000-19,000 Russian holiday makers visiting Vietnam each month, Russia is now in the top ten countries with the most visitors to Vietnam.
Phan Thiet and Nha Trang have always been popular with Russians, but this summer other central coastal provinces are attracting large numbers of Russian tourists as well.
As of May, the number of Russian visitors to Vietnam recorded a year-on-year increase of over 56 percent, bringing the figure for the first five months of the year to 86,681.
The number of Russian tourists to Vietnam also rose 50 percent year-on-year in 2011.
The number of international visitors to Vietnam from January to November was estimated at over 6 million, up 11.4 percent compared to the same period last year, in which arrivals for the purpose of tourism reached 3.6 million, up 9.4 percent year on year.
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