Vietnam’s Ministry of Finance has formally submitted a proposal to Prime Minister Pham Minh Chinh, seeking approval for a large-scale luxury resort and casino project in the northeastern province of Quang Ninh. With an estimated value exceeding US$2 billion, the development aims to transform Van Don into a premier international entertainment destination and economic hub.

Planned for construction in Van Yen commune within Van Don district, the project will span around 244 hectares, of which 182.4 hectares are designated for project infrastructure and 62.1 hectares preserved as natural forest. Once given the go-ahead, the casino-resort is expected to take no more than nine years to complete, with an operational license lasting up to 70 years from the date of land allocation.

According to the Ministry’s proposal, the Van Don complex is envisioned as a high-end tourism and entertainment venue complete with gaming facilities. The initiative is designed to attract international events and position itself as a major destination in the region and globally. All operations will adhere strictly to Vietnamese legal frameworks.

Local Gambling Pilot Program Proposed

A significant feature of the Ministry’s proposal is a recommendation to include the Van Don project in the pilot program that permits Vietnamese citizens to gamble in select casinos under stringent legal oversight. This pilot initiative, previously tested at Phu Quoc’s Corona Resort & Casino, had been halted due to the pandemic and formally ended earlier this year. If approved, Van Don could become the first new site to reintroduce this trial.

“The ministry has proposed that the Prime Minister approve a pilot scheme allowing Vietnamese citizens to participate in casino gaming at the venue, subject to strict compliance with existing laws and the directives of the Politburo,” stated the official document, cited by VnExpress International.

Investment Structure and Timeline

The total proposed investment for the Van Don casino project stands at VND51.5 trillion (approximately US$2.16 billion). Of this, the investor is expected to contribute VND7.7 trillion in equity capital, with the remainder covered through bank loans.

The project will be developed in three distinct phases:

  • Phase 1 (2023–2027): Estimated investment of VND25.1 trillion
  • Phase 2 (2027–2031): Estimated investment of VND22.08 trillion
  • Phase 3 (2031–2032): Estimated investment of VND4.3 trillion

A tentative opening is projected for 2032 if all timelines are met.

Economic Impact and Local Oversight

As part of the administrative reorganization plan, Van Don has been recognized as one of 13 provincial-level special administrative zones across Vietnam, underscoring its strategic importance. Authorities believe the casino project could significantly accelerate the region’s development.

Local officials anticipate wide-ranging benefits, including enhanced regional competitiveness, increased investor interest, job creation, and improved state revenues. Over its expected 70-year operational span, the project is forecast to generate around VND228.9 trillion (US$9.67 billion) for the national budget, comprised of approximately VND134.3 trillion in corporate income taxes and VND94.5 trillion from value-added taxes.

Investor Selection and Future Uncertainty

The Ministry has requested that the Quang Ninh Provincial People’s Committee be given authority to select an appropriate investor in accordance with current regulations covering land use, bidding processes, and investment laws. While Sun Group had previously been approved as the sole investor for the Van Don casino in a 2017 provincial decision, the current proposal does not confirm any finalized partnership.

It also remains unclear whether international stakeholders will express interest, especially considering previous stagnation around the local gambling pilot at other integrated resorts such as Hoiana and The Grand Ho Tram.

As the project awaits final approval from the Prime Minister, it represents a critical step in Vietnam’s broader ambition to expand its high-end tourism offerings and solidify its status as a regional destination for integrated resort entertainment.