Vung Tau is well known for many years as beach resorts destination for Vietnamese who want to get away from saigon. The city is located 130 km east
of Saigon, Vietnam, and is situated at the tip of a small peninsula. The city's importance as a shipping port has diminished, but it still plays a significant
role in Vietnam's offshore oil industry. Vung Tau is the only petroleum base of Vietnam where crude oil and gas exploitation activities dominate the city's
economy and contribute principal income to Vietnam's budget and export volume. Vung Tau shipyard is scheduled to be completed reconstruction in
2008.
Tourists always prefer sightseeing at Front Beach (Bai Truoc) but go swimming in Back Beach (Bai Sau). Back Beach is well-known for its over 10 km of
fine sand seaside. In recent times, the number of foreign tourists visiting Vũng Tàu's beaches increased. Vũng Tàu is also home to one of Vietnam's
most well known golf courses. From Ho Chi Minh City, one needs two hours to reach Vung Tau by road (51A Expressway) or an hour and fifteen minutes
by hydrofoil express ferry.
A big resort project has just been licensed by the Vietnamese government - the Saigon Atlantis. Upon competition, this entertainment project which
requires USD 300 million in capital investment will include resorts, shopping, sailing. The investor of this project is proposing to raise the investment
capital to 4 billion USD.
Two other noteworthy entertainment projects awaiting licensing are Vung Tau Aquarium, which will cost USD 250 million, and Bau Trung, a Disneyland-
like entertainment park which will cost USD 250 million. This project includes Landmark Tower, a 88-story skyscraper proposed to be built and
completed by 2010 in Vung Tau by a USA-based company, Good Choice Import – Export Investment Inc, once built will likely be the highest building in
Vietnam. The project is under consideration for approval by the local provincial government.