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 approving the project investment policy.

Trình Thủ tướng phê duyệt dự án casino Vân Đồn

Submitting the Van Don casino project to the Prime Minister for approval.

According to documents submitted to the State Appraisal Council, Quang Ninh province stated that the Van Don Casino is planned to be built in Van Yen commune, Van Don district, Quang Ninh province, with an initial estimated total investment of approximately 51,555 billion VND (equivalent to 2.18 billion USD), of which the investor's contribution is approximately 7,733 billion VND, and the bank loan is 43,822 billion VND.

The investment period for the Van Don casino is expected to be 9 years, from Q4 2023 to Q3 2032, and is divided into 3 investment phases.

Phase 1, from Q4 2023 to Q3 2027, has an investment capital of approximately VND 25,111 billion.

Phase 2, from Q4 2027 to Q1 2031, will involve an investment of approximately VND 22,082 billion.

Phase 3, from Q2 2031 to Q3 2032, will involve an investment of approximately VND 4,361 billion.

The Van Don casino complex also 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 area for the casino complex construction is 182.37 hectares, and the area of natural forest within the plan is 62.08 hectares.

Regarding the economic effectiveness of the project, Quang Ninh province stated that its implementation will contribute to enhancing national competitiveness in the service sector, creating a ripple effect, driving development, balancing the economy, improving the investment environment in the Van Don Economic Zone, increasing state budget revenue, and creating jobs.

Specifically, over its 70 years of operation, the Van Don casino complex will contribute approximately 228,928 billion VND (equivalent to 9.67 billion USD) in taxes to the state budget. This includes 134,369 billion VND in corporate income tax and 94,559 billion VND in VAT.

In addition, the Van Don casino is expected to attract 12,000-15,000 workers with an average income of over 10 million VND per month.

According to the Quang Ninh Provincial People's Committee, the goal of investing in the Van Don casino is to create a high-end resort and entertainment complex with gambling facilities, hosting world-class events, and becoming an attractive destination for the world.

Along with the Phu Quoc casino, the Van Don casino project has been approved by the Politburo for a pilot program allowing Vietnamese citizens to gamble. The pilot period and casino business conditions will be implemented in accordance with the law.

Based on the dossier submitted by the Quang Ninh Provincial People's Committee, the Ministry of Planning and Investment recommends that Quang Ninh province complete the dossier for changing the land use purpose of the forest, review and ensure the accuracy of the proposed forest area for conversion, and submit it to the Provincial People's Council for a decision on forest conversion;

Review the decision approving the investment policy for the Van Don 1 complex project (part of the Van Don casino complex), and monitor and evaluate the project's implementation in accordance with the laws on investment, land, and other relevant laws.

At the same time, it is requested that clarification be provided regarding the high-end integrated tourism service complex project in the Van Don Economic Zone (Van Don casino), which does not meet the conditions for auctioning land use rights as stipulated in the Land Law.

The Ministry of Planning and Investment also noted that after the Quang Ninh Provincial People's Committee completes these tasks, 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 receives investment approval from the Prime Minister, Quang Ninh province will hold a bidding process to select an investor to implement the multi-billion dollar Van Don casino project between now and the end of the year.

According to the Ministry of Planning and Investment, the Van Don casino complex project falls under the category of projects requiring bidding or land auction to select an investor. In the project proposal submitted to the State Appraisal Council, Quang Ninh province chose to select an investor through a bidding process.

Therefore, the Ministry of Planning and Investment also requested Quang Ninh province to clarify whether the project is unlikely to meet the conditions for auctioning land use rights before the Prime Minister approves the investment.

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