VIETNAM

U.S. Firm Wins OK to Build Resort: BBI Investment Group Chartered said it hopes to develop Vietnam’s biggest seaside resort on China Beach, the rest and relaxation destination popular with U.S. servicemen during the Vietnam War. BBI plans to build a $243-million complex of five hotels, a golf course and a conference center by 2004, said Stewart Stemple, BBI’s managing director in Vietnam. Stemple said the State Committee for Cooperation and Investment approved the project March 31, after first clearing it with Vietnamese Prime Minister Vo Van Kiet. The resort site is six miles south of Da Nang. BBI, based in Chevy Chase, Md., owns a 67% share in the venture. Its Vietnamese partner, the Non Nuoc Tourist Co., holds the remaining stake.