Sunday, August 14, 2022

Van Don IR completion slated for 2022: reports


A $2 billion integrated resort planned for Quang Ninh province on Vietnam’s northern coast is expected to begin its first phase of construction in the first quarter of 2019 and be fully completed by 2022, according to local news reports.

The Van Don project will cover 2,500 hectares and will have a 50-year license if it receives final approval, local media cited Nguyen Duc Long, chairman of the municipal People’s Committee in the province as saying.

According to Long, the project is under the Ministry of Planning and Investment (MPI)’s consideration and he said he hoped the process would be concluded soon.

Once completed, the entertainment complex is expected to contribute VND250 billion (US$10.7 million) per year to the state budget.

In November, Prime Minister Nguyen Xuan Phuc approved a similar project in Phu Quoc island that allows Vietnamese to gamble in the casino on a trial basis.

The project is situated in the Van Don Special Economic Zone, which has attracted $2 billion of investment to improve its infrastructure, including a new international airport and highway.

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