Joseph Walter "Joe" Jackson, Michael Jackson's father, has told Vietnamese media he is not an investor in a US$2 billion theme park project in Vietnam.
Jackson, 84, said in a statement Wednesday that after careful consideration and discussions with his wife, family and advisors, he had decided not to proceed with any further investment or involvement in project Happyland Vietnam.
Happyland Vietnam, backed by the Khang Thong Group, is projected to be the largest theme park in South East Asia. It was to be inspired by the late Michael Jackson's Neverland Valley Ranch.
The Khang Thong Group had said Jackson is an investor in the 1,000-room hotel planned in Happyland, which would be located in the Mekong Delta province of Long An.
However, Jackson said he had only inked an agreement to promote the project around the world and attract big foreign investors into Happyland.
"I signed an agreement to promote the project around the world and further assist in bringing very high caliber investors to look at the project and possibly invest. My mandate was to be the spokesperson for the project, use my global outreach in getting the project Happyland to the global stage.
"To be clear, I was never at the start to be an equity investor."
Jackson had attended the ground-breaking ceremony for the project in Vietnam in February 2011.
"I believe in the growth potential of Vietnam and plan on visiting again soon to look for new opportunities over there," the statement said.