On the afternoon of January 15, at the press conference on Binh Thuan province's socio-economic situation in 2024, the Department of Planning and Investment of Binh Thuan province informed about the Suoi Cat Amusement Park Project (Tien Loi commune, Phan Thiet city) abandoned for 10 years.
In July 2005, the Suoi Cat Amusement Park Project was approved by the People's Committee of Binh Thuan Province for investment in Suoi Cat Company Limited. The project was granted its first Investment Certificate on June 13, 2007 with a land use area of over 32 hectares, a total investment capital of over 622 billion VND, and a 50-year operating period.
The project was started in 2007, partially operated in 2010 and has been inactive since 2015.
Suoi Cat amusement and tourist area seen from the outside
During its operations, Suoi Cat Company Limited incurred loans at the Bank for Agriculture and Rural Development of Vietnam - Binh Thuan Branch ("Agribank Binh Thuan").
Because Suoi Cat Company Limited did not fully repay its debt to Agribank Binh Thuan, Vietnam Asset Management Company (VAMC) signed a contract to purchase Suoi Cat Company Limited's debt from Agribank in December 2014.
Under the authorization of VAMC and Agribank, Agribank Binh Thuan filed a lawsuit and requested Suoi Cat Company Limited to pay debts under credit contracts and the case was tried by the People's Court of Phan Thiet City.
Currently, the Civil Judgment Enforcement Department of Binh Thuan province is organizing the enforcement of judgments, seizing and auctioning assets for the Suoi Cat Amusement and Tourism Area project.
Recently, Suoi Cat Company Limited has sent a document requesting competent authorities to consider adjusting the Suoi Cat Entertainment and Tourism Area project into a project with the objectives and characteristics of an urban area with a synchronous technical infrastructure system.
Many items inside the project have degraded and become deserted.
However, through the preliminary assessment results of specialized agencies, the adjustment of the project investment objective from "entertainment and tourism area" to "urban area with synchronous technical infrastructure system" is not consistent with the land use planning, urban planning, urban development orientation, housing development program and plan of Phan Thiet City, and does not meet the appraisal conditions according to the provisions of law. Therefore, there is currently no basis to consider the proposal to change the objective of Suoi Cat Entertainment and Tourism Area.
Currently, the Civil Judgment Enforcement Department of Binh Thuan province is working with Suoi Cat Company Limited and Agribank Binh Thuan to handle the contents as requested by the People's Committee of Binh Thuan province related to the enforcement of judgments at this project.
In addition, the authorities are also reviewing and legally verifying the loans of Suoi Cat Company Limited at Agribank Binh Thuan.
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