Vietnam greenlights US$2bn Van Don casino investment policy
The casino complex would be located in the northeastern province of Quảng Ninh.
Vietnam.- Deputy prime minister Tran Hong Ha has announced investment policy approval for the US$2.16bn Vân Đồn casino project. The resort would be located on 244 hectares of land in Vạn Yên Commune, Vân Đồn District, in the northeastern province of Quảng Ninh. Construction is expected take up to nine years from when land is allocated, and the casino could operate for up to 70 years.
Local media outlet VnExpress reported that Hong Ha granted investment policy approval under Decision No. 1395. Casino operations and any pilot allowing Vietnamese citizens to gamble would only be permitted once “all legal conditions are met”. The Ministry of Finance previously resubmitted a proposal seeking to include local players under the existing pilot, but clearance has yet to be given.
The resort is expected to feature a casino, hotels, villa-style accommodation and water-based attractions. A portion of the land has been designated for forest conservation. The Ministry of Finance said the development would contribute about VND228.928tn (US$9.67bn) to the country’s economy, including corporate income and value-added taxes.
