Vietnamese investment firm Virtue Resources plans to build a massive $200mn mixed-use development that includes a hotel, casino, and water park in the Cambodian border town of Bavet through its fully-owned Malaysian subsidiary, a government official confirmed yesterday. The first phase of the project, dubbed Empire World City, will be constructed on approximately 50 hectares of land and is operated by its Malaysian subsidiary VR Capital Holding Sdn Bhd, according to its website. Ros Phirun, deputy director of finance industry department at the Ministry of Economy and Finance, confirmed yesterday that the project has been granted approval by the Ministry of Land Management and Urban Planning and the Council for the Development of Cambodia. (Source: Phnom Penh Post)