2 billion dollars casino project in Vạn ồn: high-class plans unveiled!

2 billion dollars casino project in Vạn ồn: high-class plans unveiled!

Vạn Yên, Quảng Ninh, Vietnam - The Ministry of Finance has submitted a proposal to the Prime Minister to approve an investment policy for the Vân ồn Casino project in the province of QuảNG NinH. This significant initiative includes a total volume of over $ 2 billion and is part of a comprehensive plan to develop a first-class tourism and entertainment center in Van Don's business zone.

The project extends over an area of ​​around 244 hectares in the municipality of Vạn Yên, District Vân ồn. It is designed to organize international events and to position Quảng Ninh as a leading regional and global goal for tourists.

Operating details and suggestions

The operating time of the van Don Casino is a maximum of 70 years from the approval of the investor. The Ministry suggests that Vietnamese citizens can take part in the gambling under strict legal requirements, which is a novelty for the region. The pilot phase for this regulation is to be implemented in accordance with the law on the casino business.

The QuảNG NinH provincial government is commissioned to select suitable investors for the project. This measure will ensure that all legal requirements regarding investments, land and tenders are observed. This second presentation of the Ministry of Finance on Investment Policy shows the progress in the strategy for high -quality tourism services in the region.

Financing and economic effects

The entire investment capital of VNđ 51.5 trillion (approx. $ 2.16 billion) is financed by a contribution of VNđ 7.7 trillion of investors and bank loans. The project is divided into three phases:

• Phase 1 (2023–2027): Estimated investment VNđ 25.1 trillion.
• Phase 2 (2027–2031): VNđ 22.08 trillion.
• Phase 3 (2031–2032): VNđ 4.3 trillion.

By realizing the project, local authorities expect to strengthen competitiveness, an improvement in the investment climate and the creation of numerous jobs. In addition, it is predicted that the casino project will contribute to the state budget about its entire lifespan of 70 years of around 228.928 trillion (approx. 9.67 billion). Of this, 134.3 trillion for corporate tax and VNđ 94.5 trillion are omitted.

Overall, the province of QuảNG Ninh with this ambitious project relies on a sustainable development of tourism and is looking forward to a positive response from investors and the public.

For detailed information you can report the reports atVietnam.vnandVietnam Newssee.