Vietnam seeks approval for $2bn casino complex
The complex aims to attract international visitors and establish itself as a regional destination capable of hosting global-scale events.
Key points:
– Vietnam’s Ministry of Finance seeks Prime Minister approval for a $2bn casino complex in Quảng Ninh Province with a 70-year operational period
– The project includes a proposed pilot program allowing Vietnamese citizens to participate in casino gaming, subject to legal compliance
– Expected economic impact includes $9.67bn in state budget contributions over the facility’s operational lifetime
Vietnam’s Ministry of Finance has submitted a proposal for the approval of a $2.16bn casino and tourism complex in Vân Đồn District, Quảng Ninh Province.
If approved by the Prime Minister, the project will be among the most significant developments in the country’s tourism and entertainment sector.
Covering a land area of approximately 244 hectares in Vạn Yên Commune, the Vân Đồn casino complex is designed to be a luxury integrated resort, combining hospitality, entertainment and gaming.
The project is structured with a 70-year operational period and a construction timeline capped at nine years. It will unfold in three phases, with investment capital sourced through a mix of investor equity and bank loans.
Importantly, the Ministry has proposed that the Prime Minister authorise a pilot program permitting Vietnamese citizens to gamble at the casino, under strict compliance with legal frameworks and Politburo directives.
Good to know: Currently, casino access for Vietnamese nationals is highly restricted, though the country authorised a previous trial period, which ended in December 2024
Quảng Ninh’s provincial Government is expected to oversee investor selection, in line with legal requirements regarding investment and land use.
The project is anticipated to be a key economic driver for the newly designated Vân Đồn special administrative zone – aiming to boost employment, infrastructure and state tax revenue.
The project’s estimated fiscal contribution is projected at nearly VNĐ229tn ($9.67bn) over its operational lifespan, including corporate income and value-added taxes.
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