The Ministry of Construction believes that a re-positioning of the planned casino would make it more attractive to investors.
A new proposal by the Ministry of Construction (MoC) has been unanimously agreed upon by the Ministry of Planning and Investment (MPI) and submitted to Prime Minister Nguyen Tan Dung for consideration.
The casino would sprawl over a 37ha area in the middle of the new high-end ecological resort complex in the island's northwest. A former proposal that would have seen it erected in the northeast fell through and that area will now be re-imagined as a resort and entertainment complex minus a casino.
A draft decree by the Ministry of Finance (MoF) submitted to the Prime Minister last August stated that Vietnamese citizens older than 21 with full behavioural capacity would be allowed to gamble at casinos.
Earlier, at a conference organized to gather comments on the idea of setting up a new special economic zone on Phu Quoc, the Provincial People’s Committee announced the casino would have 200–400 tables and 2,000 slot machines with various other facilities such as a 5-star hotel with more than 3,000 rooms and an international conference center. The province has requested that investors cough up at least $4 billion in order to participate.
Phu Quoc is Vietnam's largest island with a population of 96,940 and an area of 589km2, a rough equivalent to Singapore. The island is actively completing major infrastructure projects such as the Phu Quoc International Airport and An Thoi International Seaport. Investors coming to Phu Quoc will be entitled to the highest investment incentives which are similar to those of industrial parks, export processing zones and special economic zones.
In September 2014, Prime Minister Nguyen Tan Dung recognized Kieng Giang province’s Phu Quoc Island as a Grade 2 urban area. The government has appointed the Southwest Steering Committee, related ministries and the Provincial People’s Committee of Kien Giang province to establish a proposal for the construction of Phu Quoc Special Economic Zone in order to make the island a center for eco-tourism, resorts and an international financial center.