Chinese Billionaire Huang Nubo and its eco friendly resortChinese Billionaire Huang Nubo and its eco friendly resort, which has run into rough weather for political and legal reasons.
At a time when world leaders have spoken at length regarding the economic and political power Asian nations hold for the future, especially China and India, a billionaire real-estate investor is now wrestling with the government of Iceland regarding his eco friendly resort project. Mr. Huang Nubo, Chairman of Zhongkung Group, has put in his bid to acquire close to 300 sq. kilometers of area including the picturesque landscape of the Vatnajokull National Park, so that he can build his eco-resort which will have its own golf course amongst others.
The region concerned encompasses the Vatnajokull National Park, and also the neighboring Jokulsargljufur National Parks including the 2nd longest river of Iceland, which happens to be a major source of water for the ice-covered country. As per plans, Mr. Nubo is looking to join these 2 areas to create a mini-town cum resort with eco friendly mechanisms of operations. But as we mentioned, the whole idea is on hold for various legal and political criticisms it has received. According to Icelandic law, there is a strict restriction on buying of property by foreign nationals in the territory of the country. If the deal goes through, it could be a huge compromise on the legal structure of the land. Also, Iceland is a very important country in terms of international links between North America, Europe and Asia, especially for trade and commerce. The resort project, if allowed, could give the Chinese establishments an unfair stronghold on the region, thus opening an avenue for their monopoly in the long run, as some eminent political scientists say. We are not politically judgmental, but the question has certainly been doing the rounds in international circles.
On the other hand, looking at the tight economic conditions of Iceland, especially after the financial collapse of 2008, the country now faces an uphill task of rebuilding its once flourishing economy, which is currently crippled due to the crisis. On paper at least, the deal could do a lot of good for the nation’s tourism industry and overall economy, but only careful analysis and conclusions drawn from there would show any roads of progress in the matter. Till that time, we are keeping fingers crossed for this ‘freezing’ new eco friendly project to reveal its details.
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