HANOI, Vietnam - A Canadian company says it's investing US$4.2 billion to build a casino and sprawling beach resort in southern Vietnam.
Asian Coast Development Ltd., which has offices in Toronto and Vancouver, says its Ho Tram Strip project in southern Ba Ria Vung Tau province -- 125 kilometres east of Ho Chi Minh City -- has been licensed by the Vietnamese government.
Plans call for the complex to consist of two luxury hotels with 2,300 rooms, a casino and a golf course.
The company says the first phase is scheduled to be completed in 2011.
It says the entire 169-hectare resort is planned to be operational within 10 years.
A statement on the Vietnamese government's website says former Canadian Prime Minister Jean Chretien will attend Saturday's ground breaking ceremony.
