Vietnam’s Ministry of Finance has re-submitted a proposal to the Prime Minister for the development of a Van Don casino plan, after more than a decade-long delay since the idea was approved by the country’s Politburo.
According to a report by VnExpress International, the Van Don casino plan is described as a VND51.5 trillion ($2.16 billion) luxury casino and resort complex in Quang Ninh province.
The proposed site is located in Van Yen commune, Van Don district, near the iconic Ha Long Bay, a UNESCO World Heritage Site.
The investment policy, currently under review by Prime Minister Pham Minh Chinh, outlines a large-scale, multi-phase integrated resort.
Documentation submitted to the State Appraisal Council shows that VND7.7 trillion ($297 million) of the total investment would come directly from an investor, with the remainder financed through bank loans.
A source familiar with the matter told AGB that the Ministry of Finance re-submitted the Van Don casino proposal on May 21st, seeking further guidance from the Prime Minister. The ministry has recommended that the Quang Ninh Provincial People’s Committee be authorized to select the project’s investor.
While the investor has yet to be finalized, the proposal is currently led by Vietnam’s Sun Group Corporation.
The development will have an operational period of 70 years and is planned across three phases:
- Phase 1 (2023–2027): $1 billion
- Phase 2 (2027–2031): $883 million
- Phase 3 (2031–2032): $174 million
Total estimated investment: $2.16 billion
If approved, the Van Don project would become one of the most high-profile integrated resort developments in Vietnam, further reinforcing Quang Ninh’s strategic role in the country’s tourism and entertainment sectors.
The ministry also proposes that Vietnamese citizens be allowed to participate in casino gambling at the resort under an existing pilot program.
The potential inclusion of domestic gamblers has been a key sticking point in Vietnam’s gaming policy, which has traditionally restricted casino access to foreigners. In 2016, Van Don was one of the two locations approved by the Politburo to allow local gambling.
It is also important to note that the proposal stipulates construction must be completed within nine years after the license is granted.
This development comes after a pilot program launched by the Vietnamese government, which allowed local gamblers to play at selected venues. However, following the trial’s expiration at the end of 2024, Vietnam currently has no casinos where local citizens are permitted to gamble. The trial program notably included the Corona Resort & Casino on Phu Quoc.
