PROJECT RESIDENTIAL AND TOURISM AREA AROUND SAU VO RESERVOIR

1. Location: the area is located in the following communes: Tan Phong, Quat Luu, Phu Xuan, Dao Duc, Thanh Lang, Huong Canh in Binh Xuyen District; and Yen Lac, Binh Dinh, Dong Cuong in Yen Lac District and Thanh Tru commune in Vinh Yen City.

2. Present conditions:

– The existing lake is used to hold water for agricultural activities. The water is from Phan River and Canh River. The PPC assigned Bitexco Corp. the PMU to form the Plan in 1/2000 scale.

– World Bank is now investigating to finance the dredging of the lake, make some embankments, planting trees, ditches and pump station to pump the water out of the city to the Red River during rainy season. This is to prevent the flood in nearby districts and the city.

– The lake will be used for a luxury eco-residential area.

3. Objectives and scale:

Objectives:

– Realize the Master Plan for Urbanization in Vinh Phuc by 2030, with vision to 2050, which has already been approved by the Prime Minister. The complex is a very importance place in urban and tourism areas as many residential areas, service, offices, tourism area and transportation entry in the Southern of Vinh Phuc City in the future of Binh Xuyen, Yen Lac District and Vinh Yen City.

Scale: Total area: 2,900ha, including:

– Residential area: 1,070 ha

– Public service: 190ha.

– Water, green area: 1,200ha

– Transportation and others: 440ha

Overview on Sau Vo lake

4. Total investment for technical infrastructure: about $350 million (including assists from WB).

5. Authorized State Agency: Vinh Phuc Provincial People’s Committee.

6. Investment content:

– Dredging, embankment, greening (incase WB does not cover all the total area of 2,900 ha of the lake).

– Urban infrastructure.

– Make direct investment or call for partners.

– Operation.

7. Status:

– Detail planning scale 1/2000.

– Primary investigation proceeded by WB on potential items and scale.

8. Progress:

– From 2014-2015: Preparations.

– From 2016-2019: Technical infrastructure installation, facilities.

– From 2020-2025: Other items.

9. Forms of investment:

– Joint venture on infrastructure.

– 100% foreign capital or joint venture on sub-projects.

10. Preferred policies:

The urban complex consists of different items that may enjoy different preferred policies. Investors will be guided for specific items.

11. Implementation:

1. Investors submit Project Proposal Documentation to Vinh Phuc Investment Promotion Agency and PPC for inspection and approval.

2. The investors then prepare the Project documentation to apply for Certificate of Investment.

3. The PPC hand over investors with clean sites.

4. Investors sign land lease contracts and receive Certificate of land use rights.

5. Infrastructure installation.

6. Investors lease land to secondary investors for doing business according to the Plan.