Vietnam eyes to build over $2 billion luxury resort, Casino in Quang Ninh

The Vietnamese Ministry of Finance has submitted a proposal for a luxury tourism and service complex in Quang Ninh province valued at approximately $2.16 billion. 

The ambitious Van Don casino project, awaiting approval from the Vietnamese Prime Minister, is slated for Van Yen commune in Van Don district, spanning about 244 hectares, Caliber.Az reports per foreign media. 

The development will operate for up to 70 years, with construction expected to be completed within nine years after land allocation. Planned as a high-end resort and entertainment hub with gaming facilities, the casino aims to attract international events and establish itself as a leading regional and global destination. 

Its primary focus is operating a casino and providing related services in strict compliance with Vietnamese laws. The Ministry of Finance has also recommended a pilot program allowing Vietnamese citizens to participate in casino gaming at the site, contingent on adherence to existing laws and Politburo directives.

Furthermore, the ministry suggests empowering the Quang Ninh provincial People’s Committee to select an investor following investment, land use, and bidding regulations. Following a recent administrative restructuring, Van Don was designated as one of Vietnam’s 13 special administrative units at the provincial level. Documents submitted to the State Appraisal Council reveal a total investment capital of $2.16 billion. 

By Naila Huseynova