|The Laguna Lăng Cô project has a registered capital of $875 million and is spread over 280ha. — Photo webdulichhue.com|Viet Nam News
HÀ NỘI — Thừa Thiên-Huế Provincial People’s Committee (PPC) has asked the Government’s permission for the increase in investment capital of the Lăng Cô Laguna project to US$2 billion and open a casino in the complex.
Under the plan, the casino business is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly $250 million on a 2.64ha area.
The project is estimated to contribute $245 million annually to the local budget from 2021 if it is approved.
According to the proposal, the Ministry of Defence and the Ministry of Culture, Sports and Tourism have also approved the plan.
The Government Office has informed relevant agencies to consider the proposal of Thừa Thiên-Huế Province.
The Laguna Lăng Cô project received an investment certificate from the management board of the Chân Mây-Lăng Cô Economic Zone in March 2007, which was modified in June 2014. The project has registered capital of $875 million and is spread over 280ha.
It is designed to serve 400,000 visitors each year with its resorts, spas, hotels and restaurants, as well as retail shops, golf courses and villas. — VNS