$2 bln high-end tourism-service project okayed in northern Vietnam economic zone

The Vietnamese government has given in-principle approval to a high-end integrated tourism-service complex in Van Don Economic Zone in the northern province of Quang Ninh.

This key project is expected to usher in a new phase of development for Van Don, transform it into a world-class tourism and entertainment center, according to a prime ministerial decision issued on Friday.

The high-end tourism-service complex project will be implemented in Van Yen commune - an area systematically planned within the broader development strategy of Van Don Economic Zone.

It covers a total area of 244.45 hectares, including 182.37 hectares for functional zones and 62.08 hectares of preserved natural forest land for ecological conservation.

Functional zones include a casino, a hotel-resort complex, a convention center, vacation villas, amusement and entertainment areas, sports facilities, green spaces, parks, schools, parking lots, and technical infrastructure.

All are designed to create a multi-functional destination combining leisure, entertainment, and commercial activities.

One notable highlight of the project is the high-end casino, which will allow Vietnamese citizens to join on a pilot basis, provided they meet strict eligibility criteria under current regulations.

Additionally, tourism, resort, and service activities will be integrated to create a closed-loop ecosystem targeting international visitors and domestic middle- and upper-class clientele.

Beyond the casino, other components such as the convention center, sports complex, premium healthcare services, shopping and entertainment zones are expected to make this site an ideal venue for international events and long holidays.

The project will require a minimum investment capital of $2 billion, with an operational term not exceeding 70 years and a maximum implementation timeline of nine years from the date of land handover to the investor.

The Quang Ninh provincial People’s Committee is tasked with determining the method of investor selection, ensuring competitiveness, transparency, and compliance with laws on investment, land, and bidding.

Local authorities will coordinate with relevant ministries and agencies to oversee the entire implementation process - from licensing casino operations and assessing environmental impacts to ensuring national defense-security and social welfare within the project area.

Notably, Quang Ninh must implement measures to protect forests, marine environments, water resources, and the local ecosystem, while also ensuring the livelihoods and stability of residents affected by the project.

Issues related to resettlement, community support, and socio-cultural facilities for both residents and workers are required to be taken into account from the outset.

The project not only presents a major opportunity to attract large-scale investments into Quang Ninh but is also seen as a catalyst for the development of the high-quality tourism and services sector in northern Vietnam.

As Vietnam repositions itself on the Asian tourism map, the establishment of large-scale entertainment centers like Van Don is expected to enhance the national brand and contribute positively to long-term sustainable economic growth.