Removing obstacles for Vietnam's largest resort casino.

On June 26th, the Quang Nam Provincial People's Committee Office announced that Mr. Ho Quang Buu, Vice Chairman of the Provincial People's Committee, had issued a document requesting the Departments of Natural Resources and Environment, Construction, Agriculture and Rural Development; the People's Committees of Thang Binh and Duy Xuyen districts; and Nam Hoi An Development Co., Ltd. to focus on resolving obstacles and accelerating the land clearance process for the Nam Hoi An (Hoiana) Resort project.

Previously, on June 7th, Nam Hoi An Development Co., Ltd. - the project's investor - sent a written request to resolve difficulties related to compensation and land clearance for the project.

Overview of the Nam Hoi An - Hoiana Resort project (Photo: Cong Binh).

The People's Committee of Quang Nam province has directed the People's Committees of Thang Binh and Duy Xuyen districts to instruct relevant units and commune-level People's Committees to urgently develop, appraise, and submit for approval the land compensation and resettlement land prices. The districts must also complete all necessary documents and procedures to determine land ownership, reclaim land, and expedite investment in resettlement areas to ensure sufficient land for households subject to relocation and clearance.

In case of any issues arising that are beyond their authority, the districts should promptly report and propose solutions to the Department of Natural Resources and Environment for guidance on how to resolve them.

The People's Committee of Quang Nam province also assigned the Department of Natural Resources and Environment to take the lead in coordinating with the Department of Construction, the Department of Agriculture and Rural Development, and other relevant departments and agencies to monitor and guide the districts and relevant units in land clearance work, promptly resolving difficulties to accelerate the project's progress.

Nam Hoi An Development Co., Ltd. will work with relevant authorities to provide related documents and guidance on resolving the complaints.

The Hoiana resort was developed by Nam Hoi An Development Co., Ltd., a joint venture between VinaCapital investment fund and Genting Group of Malaysia. However, Genting withdrew due to a failure to reach an agreement on allowing Vietnamese citizens to gamble at the casino. Suncity Group (later LET Group) replaced Genting.

In late July 2023, The Straits Times reported that the Hong Kong billionaire Cheng family had taken control of the Hoiana Resort & Golf casino in Quang Nam province, Vietnam. Control was transferred after Macau "casino king" Alvin Chau, the owner of the former company, was imprisoned earlier that year.

The Cheng family, the third wealthiest family in Hong Kong, owns the Chow Tai Fook jewelry chain and the New World Development Group. The Hoiana resort features a casino with 140 gaming tables and over 350 slot machines, a golf course, and luxury hotels under the Cheng family's New World and Rosewood brands. Numerous other infrastructure projects are under construction with a total projected investment of approximately US$4 billion (nearly VND 95 trillion).

Source: https://dantri.com.vn/bat-dong-san/go-vuong-cho-resort-casino-lon-nhat-viet-nam-20240625102306213.htm