The Ministry of Planning and Investment has just reported to the Prime Minister the results of the appraisal of the project dossier of the high-end complex tourism service area in Van Don Economic Zone (Van Don casino) in Quang Ninh province and proposed to approve the project investment policy. This move has attracted the attention of many people because the Van Don casino project has many special features.
Panoramic view of Ao Tien high-class port (Van Don district, Quang Ninh province). Photo: VNA
Super special project
Van Don Casino is expected to be built in Van Yen commune, Van Don district, Quang Ninh province, with an initial total investment capital of about VND51,555 billion (equivalent to USD2.18 billion), of which the investor's capital contribution is about VND7,733 billion and bank loan capital is VND43,822 billion.
This is one of the two rare casino projects that the Politburo has approved for a pilot project allowing Vietnamese people to play (along with the Phu Quoc casino project), with the pilot implementation period and casino business conditions implemented in accordance with legal regulations.
The investment period of Van Don casino is expected to be 9 years, from the fourth quarter of 2023 to the third quarter of 2032, and is divided into 3 investment phases. Phase 1, implemented from the fourth quarter of 2023 to the third quarter of 2027, has an estimated investment capital of about 25,111 billion VND. Phase 2, from the fourth quarter of 2027 to the first quarter of 2031, has an estimated investment capital of about 22,082 billion VND. Phase 3, from the second quarter of 2031 to the third quarter of 2032, has an estimated investment capital of about 4,361 billion VND.
According to the latest proposal of the People's Committee of Quang Ninh province, the Van Don casino complex has a land use plan of 244.45 hectares, with a land use period of 70 years from the date of land allocation, of which the land area for the casino complex is 182.37 hectares, and the natural forest area in the plan is 62.08 hectares. Quang Ninh province plans to maintain the current status of the forest land area interspersed within the project implementation scope and manage this area according to the provisions of the law on forestry.
Regarding the economic efficiency of the Van Don casino project, according to Quang Ninh province, the implementation of the project will contribute to enhancing national competitive advantages in the service sector, creating spillover effects, creating development momentum, balancing the economy, improving the investment environment in the Van Don Economic Zone, increasing state budget revenue and creating jobs.
Specifically, Quang Ninh province calculated that in 70 years of operation, the Van Don casino complex will contribute about VND228,928 billion (equivalent to USD9.67 billion) in taxes to the budget; of which, corporate income tax is VND134,369 billion and VAT is VND94,559 billion.
In addition, Van Don casino will attract 12,000 - 15,000 workers to build and serve at the project's construction sites, with an average income of over 10 million VND/month.
Much work to do
Before the Prime Minister approved the investment policy for Van Don casino, the Ministry of Planning and Investment proposed assigning Quang Ninh province to complete the dossier on changing the purpose of forest use, review to ensure the accuracy of the proposed forest area for conversion, and submit it to the Provincial People's Council for decision on forest conversion.
Opening of Van Don (Quang Ninh) - Tra Noc (Can Tho) flight route. Photo: VNA
Along with that, review the decision to approve the investment policy of the Van Don 1 complex project (part of the Van Don casino complex), monitor and evaluate the project implementation in accordance with the provisions of the law on investment, land and related laws; at the same time, clarify that the high-end complex tourism service project in Van Don Economic Zone does not meet the conditions for auctioning land use rights according to the provisions of the Land Law.
In addition, the Ministry of Planning and Investment also noted that after the Quang Ninh Provincial People's Committee completes these contents, the Van Don casino project dossier will be eligible to be submitted to the Prime Minister for approval of the investment policy.
According to the Ministry of Planning and Investment, if the project is approved for investment by the Prime Minister, from now until the end of the year, Quang Ninh province will organize a bidding to select an investor to implement the Van Don casino project.
According to the Ministry of Planning and Investment, the Van Don casino complex project is subject to bidding to select investors for projects using land or land auctions. In the project proposal sent to the State Appraisal Council, Quang Ninh province chose bidding to select investors. Therefore, the Ministry of Planning and Investment requested Quang Ninh province to clarify that the project is not capable of meeting the conditions for auctioning land use rights before the Prime Minister approves the investment./.
Thu Tra
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