A view of the Van Don – Mong Cai Expressway in northern Quang Ninh Province. Photo by VnExpress/Le Tan
The Ministry of Finance has submitted a proposal to the Prime Minister seeking approval for an investment policy for a luxury tourism and services complex — known as the Van Don casino project — in Quang Ninh province.
The casino, set to be built in Van Yen commune, Van Don district, will have a total investment of over US$2 billion and a planned land area of approximately 244 hectares.
The project will have a maximum operational period of 70 years and a construction timeline not exceeding nine years from the date of land allocation.
The casino project is designed as a high-end resort and entertainment complex with gaming, aiming to host international events and become a leading regional and global destination. Its core objective is to operate a casino and provide related services in compliance with Vietnamese legal regulations.
Notably, the ministry has proposed that the Prime Minister approve a pilot scheme allowing Vietnamese citizens to participate in casino gaming at the venue, subject to strict compliance with existing laws and the directives of the Politburo.
The ministry also recommended that the Quang Ninh provincial People’s Committee be authorized to select a suitable investor in accordance with regulations on investment, land use, bidding and other relevant laws. Under the recently approved administrative reorganization plan, Van Don has been designated as one of 13 provincial-level special administrative units across the country.
According to documents submitted to the State Appraisal Council, the total investment capital for the project is VND51.5 trillion (US$2.16 billion). Of this, VND7.7 trillion will be contributed by the investor, with the remainder financed through bank loans.
The project is divided into three phases: phase one (2023–27) with an estimated investment of VND25.1 trillion, phase two (2027–31) with VND22.08 trillion and phase three (2031–32) with VND4.3 trillion.
Quang Ninh authorities believe the project will serve as a powerful driver of growth for the Van Don special administrative zone, enhancing its competitiveness, improving the investment climate, generating employment and increasing State budget revenues.
Over its 70-year lifespan, the Van Don casino complex is expected to contribute approximately VND228.9 trillion to the budget, including VND134.3 trillion in corporate income tax and VND94.5 trillion in value-added tax.
