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August 29, 2007
Govt hails plan for $5bln recreational complex

Vietnam's President Nguyen Minh Triet has applauded a plan by the Gillmann Group, Fidelity Ventures and partners from the US to invest in a US$5 billion recreational complex in southern Ba Ria-Vung Tau Province.

While receiving Gillmann Group CEO Fred Gillmann, Fidelity Ventures President and Director Xuan Vu (Peter) Nguyen and partner representatives here yesterday, President Triet said Vietnam has spared no efforts to improve its investment environment as it looks to attract more foreign investment to the countrys already significant economic progress.

"An increasing number of foreign investors have flocked to Vietnam in the recent past, creating an impetus for the investors themselves as well as their Vietnamese partners," he said.

The State leader also pointed to Vietnam's accession to the World Trade Organisation (WTO) as another advantage for foreign investors and hoped that Gillmann Group and Fidelity Ventures would be successful in Vietnam. VNA reports

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