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Vietnam’s Ministry of Finance submitted a proposal for a $2.16 billion casino and tourism complex. The project requires Prime Minister approval to move forward.
The complex would be located in Vân Đồn District, Quảng Ninh Province. It’s planned for Vạn Yên Commune on approximately 244 hectares of land.
Quảng Ninh’s provincial government will oversee investor selection. This follows legal requirements for investment and land use compliance.
If approved, this would rank among the country’s most significant tourism and entertainment developments.
The project aims to serve as a key economic driver for the newly designated Vân Đồn special administrative zone. Officials expect major boosts to employment, infrastructure, and state tax revenue.
Vietnam wants to attract international visitors and establish itself as a regional destination. The complex is designed to host global-scale events.
Projected fiscal contributions reach nearly VNĐ229 trillion ($9.67 billion) over the facility’s operational lifetime. This includes corporate income and value-added taxes.
The integrated resort combines hospitality, entertainment, and gaming in one luxury destination.
The project features a 70-year operational period with construction capped at nine years. Development will unfold in three phases using investor equity and bank loans.
The Ministry proposed a pilot program allowing Vietnamese citizens to gamble at the casino. This requires strict compliance with legal frameworks and Politburo directives.
Currently, casino access for Vietnamese nationals is highly restricted. The country had authorised a previous trial period that ended in December 2024.
The complex is designed as a luxury integrated resort covering multiple entertainment sectors.
Investment capital comes through a mix of investor equity and bank loans. The provincial government handles investor selection under legal requirements.
The three-phase structure allows for gradual development over the nine-year construction timeline. This spreads both investment costs and economic impact.
Legal compliance remains crucial for the Vietnamese citizen pilot program. All gaming activities must align with existing Politburo directives.
The special administrative zone designation provides additional regulatory flexibility. This supports the complex’s goal of attracting international tourism.
Project approval depends entirely on Prime Minister authorisation. The Ministry of Finance awaits this decision before proceeding with implementation plans.
The proposal represents Vietnam’s most ambitious casino development to date. Success could reshape the country’s tourism and entertainment landscape significantly.
This latest news arrives shortly after Vietnam and Laos conducted an operation to takedown a cross-border online gambling ring, which was accused of facilitating nearly $50m in illegal gambling. The operation led to various raids in Vientiane, Laos, where a group of Vietnamese nations were allegedly operating foreign-hosted gambling sites.
Overall, 31 individuals were apprehended and charged following the joint-national investigation.
