The national government of Vietnam officially approved on Friday a project to develop a casino resort in the northeastern province of Quang Ninh, within the Van Don Special Economic Zone. The plan entails a minimum investment of US$2 billion, according to a report by local media outlet VnExpress.
Quang Ninh authorities are now tasked with selecting an investor for the development, the report stated.
The resort complex is set to cover more than 244 hectares (603 acres) and will feature a casino, hotels, villa-style accommodation, and water-based attractions. A portion of the land has been designated for forest conservation.
The Van Don casino resort project has been under review by the Vietnamese national authorities since 2023. The concept, however, dates back further. It was included in a 2017 government decree establishing a pilot scheme permitting Vietnamese nationals to gamble at selected casinos. The scheme was initially set to last for three years but was eventually extended until the end of 2024. It remains unclear whether the authorities intend to renew the programme. At present, no casino in Vietnam is permitted to allow locals to gamble.
VnExpress report’s stated that casino operations and “any pilot scheme” to allow Vietnamese citizens to gamble at the Van Don site would only be permitted once “all legal conditions are met”.
Construction of the Van Don project is expected to be completed within nine years. The resort would operate under a licence valid for up to 70 years, said the media outlet.
The report cited estimates that the Van Don project could yield an average annual post-tax profit of approximately VND8.16 trillion (US$312.7 million), with a payback period of nearly 33 years. Over its 70-year lifespan, the complex is expected to contribute around VND228 trillion to the state budget and create approximately 6,000 jobs.
Van Don has been earmarked by Vietnamese authorities as a hub for entertainment and leisure, with a focus on casino gaming, luxury coastal tourism, and island resort development.
