Why Has Can Tho’s Trillion-Dong Water Park Project Remained Stalled After Recovery Order?

A 1,280 billion dong water park project in Can Tho has remained stalled for years, even after the city revoked the project and reclaimed its land.

The project, planned for Cai Khe Ward, was expected to include a water park, a musical fountain stage, a water park resort, a wellness hotel, a luxury shopping area and supporting facilities. The site covers more than 4.5 hectares and was formerly home to Can Tho’s old water park.

The investor, Electricity Investment, Trade and Services Joint Stock Company, received the land lease in 2009 and an investment registration certificate. The project deadline ran through the second quarter of 2020. Although the company held a groundbreaking ceremony in May 2019, it did not begin construction, leading the city to revoke its investment policy.

In September 2023, Can Tho reclaimed the land, citing unpaid obligations to the state, an unfulfilled administrative penalty and the failure to put the land into use. The company challenged the decisions, seeking a suspension of the land recovery and the reissuance of its investment certificate, but the city rejected the complaint. A court later rejected the company’s lawsuit.

The city has now instructed its land fund development center to organize auctions for 23 sites in 2026 and prepare plans for other valuable land parcels, including the site leased to the former water park investor.