Signing a memorandum of understanding to invest 7.5 billion USD to build a casino in Van Don

The People's Committee of Quang Ninh province has just held a signing ceremony of a memorandum of understanding on investment cooperation between Quang Ninh province and ISC Group (USA) and Tuan Chau Group.

Illustration photo. (Source: mishawaka.in.gov)

Accordingly, the Provincial People's Committee agreed to allow ISC and Tuan Chau Group to study and invest in the project of a high-end complex tourism area with a casino in Van Yen commune, Van Don district. The project is worth 7.5 billion USD, with a construction area of ​​2,000 hectares, and is on the list of 30 projects calling for investment in Quang Ninh province in the period of 2013-2015.

Van Don Economic Zone, Quang Ninh Province is a comprehensive economic zone operated under its own regulations, aiming to serve the socio-economic development needs of Quang Ninh Province and the Northern Coastal region of Vietnam.

This is a high-quality sea and island tourism center, high-class entertainment services in the Northern region and an international trade hub, the main driving force for the development of the key economic region of the North of Vietnam.

Previously, on September 11, ISC Corporation and Tuan Chau Corporation's partners worked with leaders of the Quang Ninh Provincial People's Committee. At the meeting, Mr. Nguyen Van Doc, Chairman of the Quang Ninh Provincial People's Committee, expressed his wish that ISC Corporation and Tuan Chau Corporation's partners would invest in Van Don in all areas that Quang Ninh province is interested in and prioritizes for development, such as entertainment areas with prizes; shopping centers; international conference centers and hotels.

Mr. Jack Maher, Chairman of ISC Corporation, was very impressed with the potential, strengths and rapid, strong development of Quang Ninh, including Van Don. In the past, the Group has called on large corporations in the US to conduct surveys and research on investment in Van Don. ISC Group and Tuan Chau Group's partners hope that Quang Ninh province and the Vietnamese Government will allow the Group the opportunity to implement the project in Van Don as soon as possible.

Mr. Pham Minh Chinh - Secretary of Quang Ninh Provincial Party Committee said that investment in Van Don has received special attention from the Vietnamese Government because this is an economic zone that is prioritized with a number of economic and social policies that no other locality in the province has. This is a great opportunity and potential for ISC Group and Tuan Chau Group's partners to invest in Van Don.

With Vietnam legalizing casino business activities and the Government approving the master plan to build Van Don economic zone into an international trade and financial center, including international banking and financial zones, duty-free zones, trade, aviation and maritime services, this is becoming a "hot spot" attracting foreign investment, especially with the airport project worth more than 1 billion USD and this project./.

According to VNA - LT