Vietnam approves $2bn integrated casino resort in Van Don

Key points:

– 244-hectare resort will be built in Van Don Special Economic Zone

– Project lifespan set at 70 years with estimated annual post-tax profit of VND8.2trn (US$313.6m)

– Forecast to contribute VND228trn to state budget over project term

Vietnam has approved a new large-scale integrated resort and casino development in the northern province of Quang Ninh. As reported by Hanoi Times, the project will be located in Van Don and is valued at approximately US$2bn.

Deputy Prime Minister Tran Hong Ha granted investment policy approval on 27 June under Decision No. 1395. The resort will cover 244 hectares and feature a pilot casino open to Vietnamese citizens, alongside hotels, villas, retail zones, conference halls and leisure attractions.

Construction of the Van Don resort is expected to take up to nine years from the date land is allocated. Once operational, the project is anticipated to yield an annual net profit of VND4.35trn, with a post-tax profit projection of VND8.2trn.

Authorities expect the complex to recover capital within 32.8 years and contribute VND228trn to public finances during its 70-year operational term.

The provincial Government will be responsible for selecting investors and monitoring capital flow, community impact and legal compliance. Progress is contingent on land clearance, environmental assessments and adherence to land, forest and water regulations.

Good to know: Vietnam currently restricts gambling access for locals, with only a few pilot schemes permitting domestic participation under strict conditions

Van Don is being positioned as a major coastal economic hub and tourism destination. Existing infrastructure includes the Van Don International Airport, Ao Tien Port and the Ha Long–Van Don–Mong Cai Expressway, enhancing connectivity with other parts of northern Vietnam and neighbouring China.

The complex is expected to create nearly 6,000 jobs and play a central role in transforming Van Don into a centre for high-end marine and island tourism by 2030.