Submit to Prime Minister over 2 billion USD project with casino in Van Don

This information was announced by the Ministry of Planning and Investment in the report on the appraisal of the dossier requesting approval of the investment policy for the high-end complex tourism service area project in Van Don economic zone, Quang Ninh province.

According to the proposal of the People's Committee of Quang Ninh province, the project's goal is to invest in building a high-end tourism, resort, and entertainment complex, an attractive destination in the world with main activities including casino business, real estate, hotel services, resort villas, resorts... The land use scale of the project is nearly 245 hectares in Van Yen commune, Van Don district. The total investment capital of the project is 51,555 billion VND, equivalent to nearly 2.18 billion USD.

The project has a 70-year operating period. The construction investment progress is no more than 9 years, expected to be completed in the third quarter of 2032. This is also the second project in Vietnam after Phu Quoc that the Politburo has allowed to pilot allowing Vietnamese people to play in casinos.

At the end of 2018, at the Government's online conference with localities, Quang Ninh leaders also proposed that the Government soon approve the high-end entertainment complex project in Van Don, which allows the construction of a casino.

According to the latest project investment proposal of Quang Ninh province (July 2023), if approved by the Government, the province will select an investor for the project at the end of this year. Quang Ninh expects that after the project comes into operation, the average annual after-tax profit will reach nearly VND 8,160 billion. The project's capital recovery period is 32.8 years. The expected net profit of the project after recovering capital and covering expenses is about VND 4,350 billion.

The province estimates that over the 70 years of operation, the project will contribute more than VND228,000 billion, equivalent to more than USD9.6 billion, to the budget. The total number of workers at the casino and hotel is about 6,000.