We expect long-term operations in Van Don to benefit significantly from key catalysts, specifically the official launch of the Van Don Special Economic Zone on July 1, 2025, and the Casino groundbreaking, both of which will enhance the area's appeal and investment absorption. With long-term land use rights in Phu Quoc as a competitive edge, these projects are expected to benefit from the growth surge surrounding APEC 2027. Combining various valuation methods, BVSC issues an OUTPERFORM rating for CEO with a target price of VND 20,496/share, representing a 19.2% upside potential from the May 13, 2026 closing price.