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Tuesday, June 25, 2024

Quang Ninh plans US$2-billion resort complex

The Saigon Times

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HCMC – The northern province of Quang Ninh has asked the prime minister for approval of a US$2-billion project to build a world-class resort complex in Van Don.

The complex will feature casino, real estate, and accommodation.

Covering 245 hectares in Van Yen Commune, Van Don District, the project will require an estimated VND51,555 billion, equivalent to nearly US$2.18 billion.

The project is expected to have a lifespan of 70 years, with a construction period not exceeding nine years. Completion is planned for the third quarter of 2032.

If approved, the project will become Vietnam’s second casino, following the inaugural casino on Phu Quoc Island, which was approved by the Politburo to pilot local access to select casinos.

Quang Ninh plans to select a contractor by the end of this year and anticipates that the project, once operational, will contribute over VND228,000 billion, equivalent to US$9.6 billion to the state budget while generating jobs for about 6,000 individuals within the casino and hotel sectors.

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