Vietnam’s $2.2Bn Casino Resort Planned For Special Economic Zone

The Van Don Economic Zone is a sprawling 2,200 square kilometer Strategic Administrative Economic Zone (SAEZ) located in northern Vietnam. It encompasses over 43,000 hectares of land spread across 30 islands and the Elephant River Valley. With its strategic location, natural beauty, and abundant resources, the Van Don Economic Zone has immense potential for economic development, particularly in the tourism sector.

The People’s Committee of Quang Ninh has put forward a proposal to build an integrated resort within the Van Don Economic Zone. Spanning a vast 245-hectare site in Van Yen village, Van Don district, this premium tourist destination aims to offer a wide range of amenities and attractions to visitors.

The project, with an initial capital of VND51.55 trillion ($2.18 billion), is expected to be completed by the third quarter of 2032. Once approved, the resort will operate for a duration of 70 years, providing a long-term economic boost to the region.

The integrated resort within the Van Don Economic Zone aims to cater to the diverse needs and preferences of tourists. It will include luxurious hotels, world-class resorts, and a wide range of entertainment and recreational facilities. Visitors can expect to indulge in a variety of activities such as gaming, shopping, dining, and relaxation.

One of the key highlights of the proposed integrated resort is the casino. Notably, it will be one of only two casinos in Vietnam permitted to serve Vietnamese nationals. This policy was enacted in 2016, opening up opportunities for local residents to enjoy casino gaming within their own country.

Once operational, the integrated resort is expected to have a significant economic impact on the Van Don Economic Zone and the wider region. It is projected to generate an average annual after-tax profit of VND8.16 trillion ($336.2 million). With a break-even point of 32.8 years, the project promises long-term financial sustainability and growth.

As the Van Don Economic Zone aims to position itself as a sustainable and eco-friendly destination, environmental considerations play a crucial role in the development of the integrated resort. Measures will be taken to minimize the impact on the natural environment, preserve local ecosystems, and promote responsible tourism practices.

The development of the integrated resort within the Van Don Economic Zone is expected to significantly boost tourism in Quang Ninh Province. The region, already famous for its stunning landscapes, including the world-renowned Ha Long Bay, will now have an additional draw for both domestic and international tourists.

The construction and operation of the integrated resort will create a multitude of employment opportunities for local residents. From construction workers to hospitality staff, the project will contribute to job creation and skill development, leading to enhanced economic growth and prosperity in the region.

To support the growth of tourism in the Van Don Economic Zone, there are plans for substantial infrastructure development and improved connectivity. This includes the expansion and modernization of transportation networks, such as roads, airports, and seaports, to ensure seamless access for visitors.