Investors sought for new casino, airport in northern Vietnam

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The northern province of Quang Ninh is seeking investment for 18 projects including a US$4 billion casino and resort complex and an international airport, news website VnExpress reported Wednesday.

It quoted Nguyen Van Thanh, vice chairman of the provincial People's Committee, as saying the 2,000-hectare resort complex will be built in Van Don and will help transform the district into an international tourism destination.

A plan for the project is expected to be submitted to the government later this month.

The province is also calling for investment in the $1 billion Van Don International Airport.

"Many investors, including a major South Korean company, are highly interested in this project," Thanh said, withholding the name of the company.

The two projects, together with 16 others, will be announced and promoted at an investment conference in Quang Ninh on February 23-24.

Provincial officials said tax incentives will be offered to boost foreign investment, amid tightened public spending and difficult global economic conditions.

According to VnExpress, Quang Ninh, which is around 200 kilometers east of Hanoi, has attracted $3.73 billion in FDI pledges since 1989. Only 19 percent of the committed investment has been disbursed, it said.

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