Suoi Cat Entertainment and Tourism Area in its early days of operation. Photo: Hoang Dan
The first phase of the project was put into operation in 2010, featuring a wide range of attractions such as water games, restaurants, hotels, and a children’s playground.
However, by 2015, the entire resort had to shut down due to inefficient operations and mounting debts.
The project has been closed since 2015.
“The empty space in front of the restaurant used to be rented out for wedding ceremonies. This practice stopped over a year ago. On the other hand, the temporary market of Tien Loi commune, set up during the COVID-19 pandemic, is still operating on the side of the resort, following an agreement between the commune and the investor,” said a representative of the People’s Committee of Tien Loi commune.
After a decade of abandonment, the Suoi Cat tourism area has fallen into disrepair, with unfinished constructions, overgrown weeds, and dismantled facilities, giving the place a desolate look at the gateway to Phan Thiet city.
Devastation inside the Suoi Cat tourism area
Overgrown weeds inside the area
Many items have deteriorated and been damaged over time.
The main reason for the project’s failure is believed to be the investor’s inefficient and scattered investment strategy, failing to attract the expected number of tourists.
When the Vietnam Bank for Agriculture and Rural Development (Agribank) – Binh Thuan branch stopped lending, Suoi Cat Limited Company had to raise capital from external sources, eventually leading to liquidity issues.
The restaurant area inside the resort is deserted
Weeds cover the pathways inside the resort
In December 2014, the Vietnam Asset Management Company (VAMC) purchased Suoi Cat Limited Company’s debts from Agribank.
In August 2018, the People’s Court of Phan Thiet city held a first-instance trial and ruled that Suoi Cat Company must pay VAMC more than VND 405 billion, including nearly VND 190 billion in principal and over VND 215 billion in interest.
In addition to bank loans, the investor is also entangled in external capital mobilization, leaving the project with no way out. (In the picture, the signboard of Suoi Cat tourist area has been removed and replaced with the name of an enterprise believed to have provided capital to Suoi Cat Company). Photo taken on May 15, 2025.
In an attempt to rescue the project, in April 2024, Suoi Cat Company proposed to adjust the project from an entertainment and tourism area to an urban area named “Khanh Hoa Riverside Residences,” featuring a synchronous technical infrastructure system.
However, this adjustment was deemed inappropriate by specialized agencies, as it did not conform to land use planning, urban planning, urban development orientation, housing development programs, and legal regulations.
The front of the Suoi Cat tourism area still houses households who have not yet agreed on land handover
Subsequently, the Binh Thuan Provincial Department of Justice initiated the procedure to enforce the verdict of August 15, 2018, of the People’s Court of Phan Thiet city, involving the auction of the Suoi Cat Entertainment and Tourism Area project.
On May 13, 2025, Mr. Huynh Van Hung, Director of the Binh Thuan Provincial Department of Justice, stated that the enforcement of the sentence at the project had been temporarily halted to allow the parties to reach an agreement.
“The project owner has requested a suspension of the enforcement to facilitate self-resolution with the bank,” Mr. Hung said.
The deadlock in resolving debts between the investor and the bank has left the resort in a state of desolation for a decade
Many items and structures have deteriorated after a long period of disuse
The entrance to a play area is flooded with wastewater from business activities
To address the project’s challenges, at the end of March 2025, Mr. Phan Van Dang, Vice Chairman of the Binh Thuan Provincial People’s Committee, chaired a meeting with the Department of Finance to discuss the company’s proposals.
Mr. Phan Van Dang acknowledged that the Suoi Cat Entertainment and Tourism Area project had been inactive for a long time, resulting in a waste of resources for the enterprise and reflecting the locality’s limitations in state management during the project approval process.
The Suoi Cat tourism area was only partially constructed before being abandoned since 2015
The Vice Chairman of the Binh Thuan Provincial People’s Committee requested the Department of Finance to closely monitor the overall situation of the project and advise the Provincial People’s Committee on reporting and proposing to the Provincial Party Committee to allow a change in the project’s function, in line with local planning. He also emphasized the need to finalize the debt repayment plan.
A Traffic Connection Conundrum: Unveiling Transport Solutions for Lam Dong Province Post-Merger
The Lam Dong provincial leaders have proposed an ambitious plan to enhance connectivity through a comprehensive transportation network, including highways, roads, and railways. This proposal comes in light of the potential merger of three provinces: Lam Dong, Binh Thuan, and Dak Nong.
The Downfall of Binh Thuan’s Former Leaders: How Their Missteps Benefitted Rang Dong Company to the Tune of Over 300 Billion Dong
According to the prosecution, the group of former leaders of Binh Thuan Province approved the pricing for over 10 hectares of land designated for high-rise buildings and set the price for more than 25 hectares of low-rise housing in a project by Rang Dong Company, causing a loss of VND 308 billion to the state.
The Ultimate Escape: Unveiling the Opulent Oasis by Lê Thà nh in Bình Thuáºn
The People’s Committee of Binh Thuan Province has approved a decision to convert the land use purpose for the development of the Resort & Hotel Lamuine 1 in Mui Ne Ward, Phan Thiet City. This decision paves the way for Minh Quan Tourism Company Limited to establish a remarkable hospitality destination.
“Affordable Social Housing in Binh Thuan: Rent Caps at VND 10 Million per Month”
On October 31st, the People’s Committee of Binh Thuan province issued a framework for rental prices of social housing and worker dormitories in industrial parks within the province. The new regulations, effective from November 15th, 2024, set the maximum rent at 10 million VND per month.
Pursuing Criminal Charges Against Former Chairman of Binh Thuan People’s Committee Le Tien Phuong and 16 Other Accused Individuals
Former Binh Thuan People’s Committee Chairman Le Tien Phuong and several other former provincial leaders have been indicted in a case related to the Phan Thiet Beach Tourism Urban Area project.
