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Read Full BioVietnam’s Ministry of Finance has asked Prime Minister Pham Minh Chinh to approve a luxury $2.16 billion casino, tourism, and entertainment complex project in Quang Ninh province’s Van Don Economic Zone.
Viet Nam News and Vietnam Business Insider reported that the ministry wants Chinh to grant the province the right to choose a suitable investor.
The project’s backers aim to attract investors and banks to inject capital worth over $2.16 billion. In return, the investors will gain a 70-year concession. The concession begins on the day they formalize the financial package.
The province wants to build the complex on a 244-hectare plot. The project’s masterminds say the complex will be an international-class resort and entertainment venue.
Vietnam: Casino Coming to Quang Ninh?
The complex will be able to host large-scale events. It aims to attract tourists from around the world, offering legally compliant gambling and a range of general tourist facilities.
The Ministry of Finance has also proposed allowing Vietnamese citizens to gamble at the complex as part of a controlled pilot.
Late last year, officials announced the end of a similar government pilot at the Corona Resort and Casino Phu Quoc. The latter is one of Vietnam’s largest license-holding casinos.
Government officials made the decision following a ruling by the Politburo on gambling.
Quang Ninh officials believe the casino complex will boost the province’s economy. The Van Don Economic Zone anticipates an increase in tourist interest and employment opportunities.
The ministry estimates that the project will result in the state collecting a combined total of approximately 228,928 billion VND ($9.67 billion) in corporate income tax and VAT levies.
A Tourist Attraction for Van Don
Officials have asked Chinh to instruct the provincial People’s Committee to draw up the terms of the bidding process.
The province has been working on the proposal since 2023. Quang Ninh officials say casino and tourism facilities will help boost the province’s international profile.
Quang Ninh expects to complete the project in three phases.. The first of these concludes in 2027, with an initial $964 million investment.
Quang Ninh plans to complete a second, roughly similar investment phase by 2031, followed by a third and final $167 million phase in 2032..
Advocates claim that the project will create jobs for 12,000-15,000 people, providing them with an average monthly income of over 10 million VND ($384). This will help improve the lives of the province’s residents.
