$2 bln casino project submitted to PM for approval

The Ministry of Finance has submitted a proposal to the Prime Minister seeking approval for an investment policy to build Van Don casino in northern Quang Ninh province, according to a report from the Vietnam News Agency.

According to documents submitted to the State Appraisal Council, the total investment capital for the project is VND51.5 trillion ($2.16 billion). Of this, VND7.7 trillion ($295 million) will be contributed by the investor, with the remainder financed through bank loans.

Covering some 244 hectares in Van Don district, the project is designed as a high-end resort and entertainment complex with gaming, aiming to host international events and become a leading regional and global destination. Its core objective is to operate a casino and provide related services in compliance with Vietnamese legal regulations.

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