People may have Different Opinion Such As “One day UNESCO will downgrade Vinh Ha Long to a boring bay like all other bays. Instead of spending $2.2 billion on industrialization development, Vietnam “apes” Macau and ignores the fact that it works in Macau because it is a small city with 600,000+ people and lives at the mercy of China. With more than 100 million people, Vietnam can never develop with casinos, but promotes more or less crime and bad gambling mentality.”
Overview of the Casino Resort Plan
The Ministry of Planning and Investment submitted a detailed report to the Prime Minister proposing a $2.18 billion tourist complex, inclusive of a casino, within Quang Ninh Province in Vietnam.
Location and Scope:
The proposed complex aims to be a premium tourist destination, housing hotels, resorts, and a casino, and is planned to cover a vast 245-hectare site situated in Van Yen village, Van Don district.
The project’s estimated initial capital is approximately VND51.55 trillion (equivalent to $2.18 billion). It is anticipated to undergo construction for less than nine years, aiming for completion by the third quarter of 2032. Once operational, the project is slated to operate for 70 years.
Casino Permit and Policy Context:
This particular casino is among only two in Vietnam permitted to cater to Vietnamese nationals, aligning with a policy established in 2016. The initial proposal for the Van Don project surfaced during a government conference in late 2018, presented by Quang Ninh’s authorities.
Development Timeline and Bidding Process:
Quang Ninh’s People’s Committee revealed plans in July to kick off the bidding process by the year’s end, hinging on government approval for the project’s progression.
Expected Economic Impact:
The anticipated average annual after-tax profit from the complex is estimated to be VND8.16 trillion. It is projected to reach a break-even point at approximately 32.8 years after its operational phase commences.
Over the span of 70 years, the proposed project is forecasted to significantly contribute around VND228,000 billion to the state budget. Additionally, it is anticipated to generate roughly 6,000 employment opportunities.
Opinions and Concerns:
Divergent Views on Casino Development:
Supporters: Proponents argue that the casino resort would bolster tourism, create job opportunities, and substantially contribute to the region’s economy.
Opponents: Critics express concerns over the potential societal and economic impacts, citing issues like increased crime, negative gambling behaviors, and the transformation of the region’s identity.
Comparisons and Analogies:
Some individuals draw comparisons between this ambitious project and established gambling hubs like Macau. Others question the compatibility of such developments within Vietnam’s socio-economic landscape, highlighting the vast differences between Vietnam’s population and that of regions where similar ventures have succeeded.
Risk and Reward Evaluation:
Discussions often revolve around weighing the long-term economic benefits against potential societal risks, emphasizing the need for a thorough assessment of the project’s impact on the local community, economy, and social fabric.
Sustainability and Future Development:
Concerns are raised regarding the long-term sustainability of the project, particularly given the extended timeline for reaching the break-even point. Additionally, discussions ponder the potential implications on Vietnam’s global image as a tourism destination and the sustainability of the region’s cultural and environmental heritage.
The proposal for a $2.18 billion casino-integrated tourist complex in Quang Ninh Province has elicited a spectrum of opinions and concerns. While supporters anticipate economic growth and job creation, detractors express reservations about the potential societal and economic impacts, highlighting the need for meticulous evaluation and consideration of both risks and rewards before the project’s realization. The project’s approval and subsequent implementation hinge on balancing economic opportunities with the preservation of cultural heritage and the well-being of the local populace.