Ninh Kieu promenade in Vietnam’s Can Tho ceases operations due to losses

On July 1, Can Tho City absorbed neighboring Hau Giang and Soc Trang Provinces as part of a recent major administrative restructuring in which Vietnam's total number of provinces and cities was reduced to 34 from 63.

Nguyen Ngoc Anh, vice-chairman of the administration in Ninh Kieu Ward, on Thursday confirmed that the promenade had been shut down for about two months.

The investor voluntarily withdrew after incurring unsustainable losses, effectively ending the contract.

Local authorities are currently seeking approval from the city government to relaunch the pedestrian street.

This may involve re-evaluating the project, announcing a new call for investment, and organizing a bidding process to select a new investor for future operations.

Previously, the People's Committee of the former Ninh Kieu District had agreed to terminate the contract with Me Kong Company's branch, effective from June 1.

The company was asked to promptly finalize contracts with vendors, fulfill any outstanding financial obligations, and recover all invested infrastructure.

Authorities are coordinating with relevant units to review and hand over both public and private assets according to regulations.

Ninh Kieu Pedestrian Street officially launched on the night of April 30, 2022 and operated every Saturday and Sunday from 6:00 pm to 10:00 pm.

It hosted a variety of cultural, artistic, commercial, and service activities with shopping areas, food courts, and live performances of don ca tai tu (a form of traditional southern Vietnamese music).

At the Ho Chi Minh Statue area near Ninh Kieu Wharf, traditional activities such as incense offering ceremonies and commemorations took place.

This space also served as a venue for cultural events, performances, festivals, entertainment, folk games, and magic shows.