Project Details
Spanning 244 hectares in Van Don Economic Zone’s Van Yen commune, the development allocates 182 hectares for facilities, including a casino, luxury hotels, villas, entertainment venues, and landscape parks. 62 hectares of protected and production forests remain untouched under Vietnam’s forestry laws. They are excluded from leased land and managed under existing environmental regulations.
Envisioned as a premier luxury hub integrating tourism, hospitality, and gaming, the complex targets global upscale travelers and major events. Construction will unfold in three phases over nine years, backed by VND7.7 trillion (US$302 million) in equity, with remaining funds expected from loans:
- Phase 1 (VND25.1 trillion): 2023 – 2027
- Phase 2 (VND22.08 trillion): 2027 – 2031
- Phase 3 (VND4.3 trillion): 2031 – 2032
Economic Outlook
The Van Don resort is projected to employ around 6,000 staff and positively impact the local and national economies. Forecasts indicate average annual post-tax profits of approximately VND8.16 trillion (US$312.7 million), with total tax contributions exceeding VND228 trillion ($9.6 billion) over its 70-year operational span. These figures cover corporate and value-added taxes.
Financial analysis suggests a 33-year breakeven period, after which net profits could reach VND4.35 trillion (US$167 million), reinforcing its role as a long-term regional economic anchor.
However, the access to casinos for Vietnamese nationals remains undetermined. While the Finance Ministry proposed extending Phu Quoc’s local-gambling pilot program to Van Don, government approval is pending.
Development Initiatives
Quang Ninh authorities will oversee a public tender to select the resort investor, while the Economic Zone Management Board develops worker housing and essential community facilities. Planners are directed to allocate land for sports and cultural venues serving residents and tourists alike.
The project aligns with Van Don’s 2030 vision to become a diversified marine economy by leveraging existing infrastructure like Van Don International Airport, the Ha Long-Van Don-Mong Cai expressway, and Ao Tien seaport.
