The Foundation Engineering and Underground Construction JSC, also known as Fecon, and the United Arab Emirates-based Vault Investments LLC last week signed a strategic co-operation deal on investment research into the Ho Suoi Lon entertainment and sports park on Phu Quoc Island. The park is expected to be built in the centre of the island on an area of 175 hectares and include areas for horse racing, car racing, and shooting, as well as water sports. Crucially, the developers are looking into ways to use clean energy in all aspects of the complex, with a solar energy producing zone. Fecon is the local project developer of the complex, while Vault is the financial investor. The consortium, with support from prestigious US and Italian consultants, hoped to submit an investment proposal to the Phu Quoc Island Investment Development Management Authority and the Kien Giang People’s Committee for approval this November. Vietnamese Ambassador to the UAE Pham Dinh Dam said that as a developed nation in the Middle East, the UAE had a track record in the planning, construction, and development of upscale urban zones, and it was a first-class financial centre as well as tourism and shopping paradise worldwide. “In the… Read full this story
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