Northern Vietnam plans $2.18 bln casino, tourism complex
The Ministry of Planning and Investment has asked Prime Minister Pham Minh Chinh to grant in-principle approval to a $2.18 billion high-end tourism project with a casino in Van Don Economic Zone, Quang Ninh province.
According to the provincial People's Committee's proposal, the project will have a high-end entertainment, resort and tourism complex, with casino, real estate, hotel and resort villa segments. It is expected to cover 245 hectares in Van Yen commune, Van Don district.
A corner of Van Dong island district, Quang Ninh province, northern Vietnam. Photo courtesy of Tuoi tre (Youth) newspaper.
Once operational in the third quarter of 2032, it will be the second project in Vietnam allowed by the Politburo - the Party’s premier decision-making body - to include a casino for Vietnamese citizens on a pilot basis.
In its latest proposal submitted in July 2023, Quang Ninh authorities said they would select an investor for the project by the end of this year if the government gives the nod.
Once the project comes into operation, it is expected to generate an average annual after-tax profit of nearly VND8.16 trillion ($336.53 million), with a capital recovery period of 32.8 years.
This province estimated that during its 70 years of operation, the project will contribute more than VND228 trillion ($9.6 billion) to the local budget and employ 6,000 workers at casinos and hotels.
At present, Corona Resort and Casino in Phuc Quoc island is the only casino in Vietnam to allow Vietnamese players on a pilot basis. Located in a prime location on the “Pearl Island”, the complex houses nearly 2,000 five-star hotel rooms, world-class restaurants, an 18-hole golf course, the VinWonders park, and the country’s most modern casino.
It served 240,560 customers between 2019 and 2021, 65% of them Vietnamese, according to a Finance Ministry report. The facility, invested in by Phu Quoc Tourism Development and Investment JSC, incurred a loss of VND2.76 trillion ($121 million) from its debut in early 2019 to September 2021.
The government had licensed eight casino projects before Decree 03/2017 on casino businesses came into force in 2017.
These were the Do Son Resort & Casino in Hai Phong; Lilai International Hotel, Royal Casino and Hong Van Casino Hotel in Quang Ninh province; Aristo International Hotel in Lao Cai province; Crowne International Casino at the Silver Shores International Resort in Da Nang city; The Grand Ho Tram Resort & Casino in Ba Ria-Vung Tau province; and the Nam Hoi An Casino Resort in Quang Nam province.
Corona Resort and Casino in Phuc Quoc is the only casino project to be licensed since Decree 03/2017 came into effect.
- Related News
- Read More
Vietnam's public investment-linked stocks seen benefiting in 2026
Capital flows in 2026 are expected to favor sectors that stand to benefit from Vietnam’s public investment drive, including infrastructure, energy, and construction, market experts said.
Finance - Wed, December 24, 2025 | 9:33 am GMT+7
High gold prices to drive prices of property, goods in Vietnam: Sunhouse chairman
In a scenario where gold prices remain elevated in Vietnam, the real estate market is likely to follow suit, pushing income levels higher and driving up prices across other goods, said Nguyen Xuan Phu, chairman of Sunhouse, a leading home appliance manufacturer, while outlining his 2026-2030 forecast.
Economy - Wed, December 24, 2025 | 8:00 am GMT+7
Malaysia’s economy grows robustly in 2025: IMF
Malaysia has shown notable resilience amid global trade tensions and policy uncertainty, with its economy growing at a healthy pace this year, supported by strong domestic consumption and investment, solid employment growth, and a global upcycle in the technology sector, according to Masahiro Nozaki, Mission Chief for Malaysia at the International Monetary Fund (IMF).
Southeast Asia - Tue, December 23, 2025 | 10:07 pm GMT+7
Indonesia to stop rice imports next year
Indonesia will not import rice for either consumption or industrial use next year, citing sufficient domestic production, according to a government official.
Southeast Asia - Tue, December 23, 2025 | 10:04 pm GMT+7
Indonesia faces challenge of balancing wages, labor costs
Indonesia plans to raise minimum wages by about 5-7% in 2026 under a new formula signed into law by President Prabowo Subianto, a move that could test the country’s cost competitiveness in Southeast Asia.
Southeast Asia - Tue, December 23, 2025 | 10:00 pm GMT+7
Philippines extends sugar import ban
The Philippine Government has decided to extend its ban on sugar imports until the end of December 2026, as domestic supply has improved.
Southeast Asia - Tue, December 23, 2025 | 9:56 pm GMT+7
Duc Giang Chemical stock comes under heavy selling pressure as bottom-fishing shares return
DGC shares of Duc Giang Chemical Group JSC (DGC) closed Tuesday at VND71,600 apiece, down 4% from Monday which saw a 6.27% increase after four sessions of sharp declines last week.
Companies - Tue, December 23, 2025 | 9:49 pm GMT+7
Hanoi clears zoning for major mall project after Aeon exit, Thaco arm steps in
Hanoi authorities have approved a detailed zoning plan for an 8.03-hectare mixed-use site in Hoang Mai district, paving the way for a shopping mall-led development after Japan’s Aeon withdrew and a unit of Vietnam’s Thaco Group moved in.
Real Estate - Tue, December 23, 2025 | 5:05 pm GMT+7
Viettel Commerce partners with China’s Dreame Technology to expand home appliance ecosystem in Vietnam
Viettel Commerce and Import-Export Co. Ltd., one of the core pillars in trade and logistics of the military-run telecom giant Viettel, has signed a strategic cooperation agreement with China-based Dreame Technology, a global high-end technology brand, in Hanoi.
Companies - Tue, December 23, 2025 | 3:38 pm GMT+7
Former LPBank chairman becomes acting Sacombank CEO
Former chairman of Vietnamese private lender LPBank Nguyen Duc Thuy on Tuesday assumed the role of acting CEO at Sacombank, immediately after completing the handover at LPBank.
Banking - Tue, December 23, 2025 | 3:30 pm GMT+7
Workforce shortages accelerate global demand for integrated facility management
Labor shortages and rising expectations for operational performance are prompting many businesses to reassess traditional management models, write Savills Vietnam analysts.
Consulting - Tue, December 23, 2025 | 3:00 pm GMT+7
Property broker Cen Land shares stabilize after ‘Shark Hung’ responds to online rumors
Shares of Cen Land (HoSE: CRE), a major Vietnamese real estate brokerage, stabilized on Tuesday morning after vice chairman Pham Thanh Hung, widely known as “Shark Hung”, spoke out to deny online rumors following a sharp sell-off in the stock on Monday.
Companies - Tue, December 23, 2025 | 11:59 am GMT+7
Party Central Committee’s 15th plenum wraps up
The 15th plenum of the 13th Party Central Committee concluded on Tuesday morning after two days of intensive working, completing all agenda items with a high degree of consensus and quality.
Politics - Tue, December 23, 2025 | 11:50 am GMT+7
Steel giant Hoa Sen sets up subsidiary in northern Vietnam
Hoa Sen Group (HoSE: HSG), one of Vietnam’s largest steel producers, has disclosed a board resolution approving the establishment of Hoa Sen Hai Phong One Member Limited Liabilities Company (HSHP), a wholly-owned subsidiary with charter capital of VND300 billion ($11.39 million).
Companies - Tue, December 23, 2025 | 11:31 am GMT+7
UOB's latest USD/VND projections for 2026 are 26,300 in Q1, 26,100 in Q2
Analysts at Singaporean bank UOB say they maintain a cautious stance on the Vietnamese dong (VND) and their updated USD/VND forecasts for next year are at 26,300 in Q1, 26,100 in Q2, 26,000 in Q3, and 25,900 in Q4.
Banking - Tue, December 23, 2025 | 10:07 am GMT+7
Vietnam's major food maker Kido delays 2024 dividend payout due to economic headwinds
Kido Group has postponed its planned cash dividend payment for 2024, citing persistent economic difficulties and the need to preserve cash flow for operations in late 2025 and early 2026.
Companies - Tue, December 23, 2025 | 8:00 am GMT+7
