The potential operator of a US$2.1 billion integrated resort development in the Van Don Economic Zone in Quang Ninh, Vietnam, would be selected by way of a tender process, according to a proposal by the Quang Ninh Provincial People’s Committee.
The update follows on from last week’s news that the Ministry of Planning and Investment had submitted a report to the Prime Minister for development of the long-awaited integrated resort project, which would include just the second casino in Vietnam in which locals were permitted to gamble. Van Don was previously named as one of two locations to take part in a pilot program on locals gambling alongside Phu Quoc’s Corona Resort & Casino, opened in 2019.
According to a new report from local media outlet VietnamNet, Quang Ninh authorities want to select which company or companies develop and operate an integrated resort by way of a bidding process, which would incorporate an auction for land use rights.
The land in question, it added, covers 244.5 hectares of which 182.4 hectares would be for project implementation and 62.1 hectares reserved for natural forest. If approved, development is expected to take nine years with a tentative opening date of 2032 and a projected IR lifespan of 70 years.
The US$2.1 billion development cost does not include expenses on compensation for site clearance and re-settlement support, VietnamNet said.
Under the pilot program currently underway in Phu Quoc, locals must be at least 21 years of age, earn a minimum of VND10 million (US$430) and pay an entry fee to gamble.
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