New City Vietnam Company Ltd broke ground of a 1 billion USD tourism complex along the coast of Tuy Hoa city in the south central province of Phu Yen on June 27.

The complex will include hotels, villas, resorts, along with yatch ports and sea entertainment areas.

It is a wholly foreign invested project, with investors from the US, Australia, the Republic of Korea and Taiwan (China), according to government portal

Local authorities said this was a key project that would help promote tourism and drive socio-economic development in the province.-VNA