Thua Thien Hue seeks to open casino

The provincial committee of Thua Thien-Hue is asking the government’s permission to increase the investment capital of the  Laguna Lang Co project to US$2 billion, as well as to open a casino in the complex, Vietnam News reports.

If approved, the project is estimated to contribute $245 million annually to the local budget from 2021. It is understood that the Ministry of Defence and the Ministry of Culture, Sports and Tourism have already approved the plan.

Under the plan, the casino is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly $250 million on a 2.6 hectare area.

The Laguna Lang Co project received an investment certificate from the management board of the Chan May-Lang Co Economic Zone in 2007, which was modified in June 2014.

The project has registered capital of $875 million and is spread over 280 hectares.

It is designed to serve 400,000 visitors each year, and includes resorts, spas, hotels and restaurants, retail shops, golf courses and villas.

More news from this jurisdiction

VietnamThursday, Sep 07, 2017

Commercial banks will be allowed to trade and provide foreign exchange services related to casinos from October.

VietnamWednesday, Aug 30, 2017

The Ho Tram Project Company Ltd (HTP) has announced the launch of KAHUNA Ho Tram Strip condotel and villa project.

VietnamSunday, Jul 02, 2017

The Ho Tram Project Company (HTP) has inked a Memorandum of Understanding with a Vietnam-based natural gas distributor in a move towards cleaner, greener power.

VietnamThursday, Jun 29, 2017

Adverse changes in the regulatory environment in Vietnam have prompted Success Dragon to terminate its Greyhound operation agreements in Vietnam.

VietnamFriday, Jun 23, 2017

A subsidiary of Suncity Group Holdings, Goal Summit Ltd, has signed a MOU with Suncity International Holdings to acquire the entire equity interest in and shareholders loan to Star Admiral Ltd., a company involved in an integrated resort project in Hoi An South in Vietnam.

VietnamThursday, Jun 15, 2017

The third phase of the Ho Tram Strip project is set to start development some time in 17Q4, said Ho Tram Project Company (HTP) in a press release on Thursday.

VietnamWednesday, May 31, 2017

Vietnam’s Ministry of Finance has been given the authority to grant casino and gaming service licenses in the country, under a newly-issued circular.