HO CHI MINH CITY, Vietnam — A $9.3 billion residential and tourism development has been approved within the buffer zone of the Can Gio Mangrove Biosphere Reserve here in this city of 13 million, Vietnam’s largest urban area. The project was proposed by the Can Gio Tourism Urban Area Joint Stock Company, a subsidiary of Vinhomes, the real estate arm of Vingroup, the country’s largest private company. The Can Gio Tourist City would span 2,870 hectares (7,100 acres), largely on land that would be filled in along the South China Sea coast using sand.
The 75,740-hectare (187,200-acre) reserve was established in 2000 and is overseen by a local management board. Home to one of the world’s largest rehabilitated mangrove forests, it protects the area from storm surges while also acting as a “green lung” for a heavily industrialized region.