Company to invest 700 billion VND in Nga Bay floating market

14:38 | 10/09/2018 Investment

A company has proposed to the authorities of the Mekong Delta province of Hau Giang a plan to develop tourism at the local famous Nga Bay floating market, Nga Bay town, at a cost of more than 700 billion VND (nearly US$30 million). 

A corner of Nga Bay floating market - Source: VNA

At a working session with the provincial officials on September 4, representatives of Phuoc Loc Trade-Construction Ltd Co said the plan will be conducted in four phases.

The first two phases would be carried out in 2018 and 2019, with the company investing 100 billion VND into building a fleet of tourist boats, necessary service facilities and an effective management apparatus for the market. The company will also cooperate with local farmers, garden owners and artisans to create orchards, gardens and craft sites supplying products for the floating market and serving visitors as well.

In the next two phases from 2019 to 2023, the company will build a trade and service complex at the site, including walking areas, a park and square by the river, a four-star hotel, restaurants and homestay facilities. Its ambitious plan also envisions large-scale ecotourism sites and an urban area in Nga Bay town.

Le Gia Phuoc, Director of Phuoc Loc Co said considering the location and popularity of the Nga Bay floating market, the company hopes to develop a tourism site on a total area of 200 ha.

Chairman of the provincial People’s Committee Le Tien Chau said the province lacks capital for tourism development due to limited budget. He assigned relevant agencies to create favourable conditions for the company to undertake procedures and realise the plan.

The Nga Bay floating market is one of the busiest markets in the Mekong Delta, and also one frequented by tourists. It was formed more than one century ago at the crossing point of seven canals and rivers.

However, when the local authorities moved the market to another site 10km away for waterway safety reasons, sales began to fall.

The province is seeking ways to revive the market for tourism purpose.

Theo VNA