Quang Ninh authority asks Gov't to approve $2 billion casino project in Van Don

By Anh Minh - Dec 30, 2018 | 10:21 AM GMT+7

TheLEADERQuang Ninh provincial authority has petitioned the Government to approve a high class casino project, which will draw more investors and tourists after Van Don international airport and Ha Long - Van Don Expressway put into operation today.

Quang Ninh authority asks Gov't to approve $2 billion casino project in Van Don
Van Don economic zone is drawing an influx of investors

At the online conference of the Government with 63 localities on implementing the 2019 socio-economic development plan, Nguyen Duc Long, Chairman of Quang Ninh People's Committee, re-emphasised the determination of the Politburo to make Van Don a breakthrough.

"Atpresent, the dossier to establish a high class entertainment complex which includes a casino has been submitted at the Ministry of Planning and Investment and other relevant authorities for consent," he said.

He asked the Government to approve the project soon, which will leverage the province to become an economic hub in the northeast of Vietnam.

The plan to open a casino in Van Don was mentioned by Quang Ninh provincial leaders a few years ago with the participation of a domestic investor. 

He stated that Quang Ninh has attracted nearly $2 billion of infrastructure investment for Van Don economic zone. 

Van Don International Airport and Ha Long - Van Don Expressway are two of the key projects in this area that will come into operation from December 30th. 

Quang Ninh also plans to start the Van Don - Mong Cai Expressway, with the total investment of nearly $484 million, in the first quarter of 2019. This project is expected to be operated in 22 months.

"Strategic investors of Van Don special economic zone are all domestic ones," Long stated.

Regarding the energy security and coal industry development, Chairman Long demanded a long-term strategy in managing coal production and consumption associated with power planning from the Ministry of Industry and Trade. 

It is estimated that with the current investment demands for deeper coal mining, it takes up to $216 million of investment capital and several years for a coal mine to be effectively exploited. 

Hence, an energy strategy will help Vinacomin develop well-calculated production plans and investment strategies. "Managing coal import and export at the fluctuation of current market prices is very difficult for the industry," Chairman Long emphasised.

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