The Ministry of Construction has asked the Prime Minister for approval of a new location for a big-ticket recreational project comprising a casino on the resort island of Phu Quoc off mainland Kien Giang Province.
The ministry said it would be easier to call for investors to develop the project if it is located adjacent to Vinpearl Resort. The current site of the project is in Da Chong Ward in Bai Thom on the island.
The proposed location covers 37 hectares as part of the zone for luxury tourism facilities in the northwest of the country’s biggest island. Meanwhile, the current site of the casino project in the northeast of the island and near populous communes should be for resorts and recreational facilities only.
The proposal won the nod of the Ministry of Planning and Investment, the local news site VnExpress report.
In mid-January, the planning ministry was told to work with the government of Kien Giang Province to draw up the project based on reviews by relevant ministries and propose incentives and policies after the Government issues a decree on casino business.
The casino on Phu Quoc Island is envisaged having 200-400 live tables and 2,000 gaming machines. It is a component of the complex, which consists of a conference center and five-star hotels with 3,000 rooms.
Investors should spend a minimum of US$4 billion on the project, heard a conference held earlier to discuss a plan for turning Phu Quoc into a special economic zone.
The Prime Minister gave the nod to the recreational complex on the 589-square-kilometer island, according to a news report posted on the Government’s portal chinhphu.vn in January this year.
A source from Kien Giang Province said early this year that the province expected a domestic enterprise with strong finances would invest in the recreational complex as no foreign investor had been found after agencies made investment promotion trips overseas.
The source said an exact site of the project had not been decided at the time and that the Mekong Delta province would work with agencies to identify the location when an investor applied for the project.
The Government has assigned the Southwest Steering Committee to cooperate with Kien Giang Province and relevant agencies to map out a scheme to develop Phu Quoc into a special economic and administrative zone for international-standard tourism and recreational services, and centers for finance, science and technology, and marine and forestry biodiversity.
Phu Quoc attracted 600,000 visitors last year, up 37% compared to the year earlier, according to the Kien Giang Department of Culture, Sports and Tourism. The island targets two to three million tourists a year in the next decade.