Vietnam Proposes $2.16B Luxury Casino Complex in Quang Ninh

The Vietnamese Ministry of Finance has submitted a proposal to the Prime Minister seeking approval for an investment policy for a luxury tourism and services complex in Quang Ninh province.

The Van Don casino project, set to be built in Van Yen commune, Van Don district, will have a total investment of over $2 billion and a planned land area of approximately 244 hectares.

The project will have a maximum operational period of 70 years, with construction not exceeding nine years from the date of land allocation.

Designed as a high-end resort and entertainment complex featuring gaming facilities, the casino aims to host international events and establish itself as a leading destination both regionally and globally.

Its primary objective is to operate a casino and provide related services in adherence to Vietnamese legal regulations.

The Ministry of Finance has proposed that the Prime Minister approve a pilot scheme permitting Vietnamese citizens to engage in casino gaming at the venue, subject to strict compliance with existing laws and directives issued by the Politburo.

The ministry has also recommended that the Quang Ninh provincial People’s Committee be authorised to select a suitable investor in accordance with regulations governing investment, land use, bidding and other relevant laws.

Under the recently approved administrative reorganisation plan, Van Don has been designated as one of 13 provincial-level special administrative units across Vietnam.

According to documents submitted to the State Appraisal Council, the total investment capital for the project amounts to VND51.5 trillion ($2.16 billion or 70.51 billion baht). Of this, VND7.7 trillion (9.65 billion baht) will be contributed by the investor, with the remainder financed through bank loans.

The project is divided into three phases:

• The first phase (2023–27) with an estimated investment of VND25.1 trillion (31.47 billion baht)

• The second phase (2027–31) with VND22.08 trillion (27.68 billion baht)

• The third phase (2031–32) with VND4.3 trillion (5.39 billion baht)

Authorities in Quang Ninh believe the project will serve as a significant catalyst for growth in the Van Don special administrative zone, boosting competitiveness, improving the investment climate, creating employment opportunities, and increasing state budget revenues.

Over its 70-year duration, the Van Don casino complex is expected to contribute approximately VND228.9 trillion (287.03 billion baht) to the budget, including VND134.3 trillion (168.40 billion baht) in corporate income tax and VND94.5 trillion (118.49 billion baht) in value-added tax.