Vietnam’s ambitious $2.2 billion resort in Van Don gains momentum

Lea Hogg 4 months ago
Vietnam’s ambitious $2.2 billion resort in Van Don gains momentum

In a strategic move to elevate the tourism industry of the northern province of Quang Ninh, Vietnam’s Planning Ministry is actively considering the development of a remarkable US $2.2 billion resort in the renowned Van Don tourist attraction. Van Don is famous for its archipelago of limestone islands, which gained Unesco World Heritage status in 2000.

Transforming Van Don into a premier casino hub

The ambitious project, proposed by the People’s Committee of the province, is poised to transform the Van Don Economic Zone and establish a world-class destination in an archipelago of limestone islands, situated approximately 30km east of the bustling port of Haiphong.

Glimpse into the vision: Van Yen village as the epicentre of entertainment

Nestled within Van Yen village, the proposed resort project spans over 240 hectares of allocated land. Envisioned to be more than just a gambling destination, the development plans encompass the creation of high-end hotels, luxurious villas, and an array of leisure and entertainment facilities.

The primary objective is to generate an impressive annual post-tax profit of US$ 336 million, promising a multifaceted experience for visitors.

Opening doors for domestic gamblers in a restrictive environment

Unveiling a unique facet of Vietnam’s tourism strategy, the resort project intends to welcome domestic gamblers, despite stringent regulations on gaming activities in the country.

While most forms of gambling remain illegal, exceptions include the national lottery and sports betting. The eight existing casinos in Vietnam are accessible to nationals, provided they demonstrate a monthly income exceeding US$ 449 and are able to pay a US$ 50 entry fee. The Van Yen resort aims to tap into this market, offering a premium gaming experience within legal bounds.

Completion by 2032

As the proposal gains momentum, the next pivotal step involves the government of Quang Ninh organizing a competitive bidding contest to select potential developers. With an optimistic timeline, construction is anticipated to commence before the year’s end, with the entire project slated for completion by 2032.

The development not only promises economic prosperity for the region but also positions Van Don as a distinguished player on the global tourism map.

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