Vietnam - Quang Ninh to have $4 billion casino

VietNamNet Bridge – The northern coastal province is calling for capital for two key projects, which are worth more than $5 billion: the Van Don tourist and casino complex and Van Do international airport.




Quang Ninh’s Vice Chair Nguyen Van Thanh said that the casino is part of the government-approved Van Don Economic Zone.

This economic zone will include a complex of resort, tourism, sports and entertainment facilities on 2,000 hectares in Van Yen commune, Van Don district, said Thanh.

The official said that investors have prepared more than $4 billion for this project. Quang Ninh authorities and the Ministry of Planning and Investment are working on the project to quickly report to the Prime Minister at the cabinet meeting in February 2012.

Quang Ninh also calls for investment in the $1 billion Van Don International Airport, the largest airport project in Vietnam so far. Thanh said that from Van Don Airport, flights to almost all Southeast Asian countries are less than two hours.

“Many investors, including a big group from South Korea are interested in this project. Quang Ninh is urgently preparing the pre-feasibility project to report to the Ministry of Planning and Investment and the Government,” he added.

Quang Ninh also calls for investment in 16 other projects, which will be marketed at an investment promotion conference in Ha Long city, Quang Ninh on February 23-24.

Tran Duc Lam, director of the provincial Department of Planning and Investment, said that besides usual preferences, the province is willing to pay in advance 100 percent of capital for site clearance for 12 projects and 30 percent for the remaining 6 projects. The local government also commits to provide technical infrastructure to the “fence of projects.”

According to the Ministry of Planning and Investment, Quang Ninh has attracted $3.729 billion of foreign investment in 89 projects. However, only $735 million was disbursed, representing only 19 percent. 
S. Ha


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