The project was handed over to Vingroup in 2016, but the firm recently decided to pull out to focus on other projects.
Around 700 households were relocated but many were not paid the right compensation amount, and some have gone to court, which is one more reason for the delay.
So far, many years after work on it first began, only the land acquisition for some small construction works have been completed.
Speaking at a seminar held to review the city’s socio-economic performance in the first four months of this year, Chairman of the municipal People’s Committee Nguyen Thanh Phong expressed concern over the delay in many major projects, including the Sai Gon Safari Park, with some remaining only on paper. Continued delay would lead to wastage of resources, he said.
HCMC plans to choose one major project and finish it quickly to encourage investment in those in which it is seeking investment.
Some investors have said they are hesitant to invest in the Saigon Safari Park because the chances of recovering their investment are not high.
The city has yet to offer specific incentives for the safari project, they added.
There are 14 tourism- and entertainment-related projects awaiting investment, 11 being part of the Natural Cultural and Historical Park in district 9, that investors have expressed interest in.