Submit to the Prime Minister a report on the appraisal of the Van Don casino investment project

ANTD.VN - The Ministry of Planning and Investment (MPI) has just reported to the Prime Minister the results of the appraisal of the project dossier for a high-end complex tourism service area in Van Don Economic Zone, Quang Ninh province and proposed to approve the project investment policy.

Trình Thủ tướng phê duyệt dự án casino Vân Đồn

Submit to Prime Minister for approval of Van Don casino project

According to the documents sent to the State Appraisal Council, Quang Ninh province said that Van Don Casino is expected to be built in Van Yen commune, Van Don district, Quang Ninh province, with a total initial investment capital of about 51,555 billion VND (equivalent to 2.18 billion USD), of which the investor's capital contribution is about 7,733 billion VND, and bank loans are 43,822 billion VND.

The investment period for Van Don casino is expected to be 9 years, from the 4th quarter of 2023 to the 3rd quarter of 2032, and is divided into 3 investment phases.

Phase 1 from Q4-2023 to Q3-2027, implemented capital is about 25,111 billion VND.

Phase 2 from Q4-2027 to Q1-2031, implemented capital is about 22,082 billion VND.

Phase 3 from Q2-2031 to Q3-2032, implemented capital is about 4,361 billion VND.

Van Don casino complex also has a land use plan of 244.45 hectares, land use period of 70 years from the date of land allocation, of which the land area for building the casino complex is 182.37 hectares, the natural forest area in the plan is 62.08 hectares.

Regarding the economic efficiency of the project, Quang Ninh province said that 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 Van Don Economic Zone, increasing state budget revenue and creating jobs.

Specifically, 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 with an average income of over 10 million VND/month.

According to the People's Committee of Quang Ninh province, the investment goal of Van Don casino is to create a high-class resort, entertainment and reward area, organize international-class events, and become an attractive destination in the world.

Along with Phu Quoc casino, the Van Don casino project was approved by the Politburo to pilot allowing Vietnamese people to play. The pilot period and casino business conditions are implemented in accordance with legal regulations.

Based on the dossier of the People's Committee of Quang Ninh province, the Ministry of Planning and Investment proposed to assign Quang Ninh province to complete the dossier on forest use purpose conversion, 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;

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 project implementation in accordance with the provisions of law on investment, land and related laws.

At the same time, it is requested to clarify that the high-end complex tourism service project in Van Don Economic Zone (Van Don casino) does not meet the conditions for auctioning land use rights according to the provisions of the Land Law.

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.

And 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 billion-dollar 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 to bid to select investors.

Therefore, the Ministry of Planning and Investment also 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.

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