A US group is seeking a license to build a US$550 million Disney-style entertainment complex in the southern Vietnamese resort city of Vung Tau.

Platinum Dragon Empire Inc. had submitted a proposal to Ba Ria-Vung Tau province authorities, Hanh Duong, president of a subsidiary firm, told Thanh Nien Tuesday.

The province had agreed to lease a large area of land for the purpose, he added.

The US company plans to build a $300 million, 200-hectare entertainment complex themed “Wonderful World”, and a $250 million underwater world.

The group expects to complete the mammoth project in two and a half years.

The province People’s Committee recently issued a license to another US company, Winvest Investment LLC group, for the Saigon Atlantis Hotel at an estimated $300 million.

Source:  Thanh Nien News - Reported by Tr.Binh – Translated by Hoang Bao

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