The Vietnam government is reportedly planning to ease the conditions for investment in major casino projects – the sort of schemes that in theory might be eligible to take part in a pilot scheme allowing economically-qualified locals to gamble.
The minimum capital commitment of US$2 billion – mentioned in media articles back in 2017 following a relevant government decree – remains in place, according to a new report from the VnExpress news outlet. But investors will be entitled to apply for an investment registration certificate – an essential step in the local process – after making a 50 percent disbursement of the capital cost, i.e., US$1 billion.
Importantly, capital investment in other projects in special administrative economic zones (SAEZs) – or infrastructure projects linked to such zones – will be taken into account when calculating the minimum capital an investor must disburse in a large-scale casino project, according to VnExpress.
The news platform added – citing the country’s Ministry of Finance – that the idea was to “help resolve difficulties for investors, and attract investment into casino and infrastructure projects connected to SAEZs, especially Van Don, a locality deemed to have underdeveloped infrastructure”.
Van Don is a rural district of Quang Ninh province in northeast Vietnam. Sun Group – described as one of the country’s biggest real estate firms – is reportedly developing a casino resort in Van Don.
Corona Resort and Casino, on Phu Quoc island, close to Vietnam’s border with Cambodia, opened in January with permission for economically-qualified Vietnamese to use the gaming facilities.
May 17, 2022The casino at the Jeju Dream Tower resort (pictured), in the capital of the South Korean holiday island of Jeju, recorded KRW18.5 billion (US$14.5 million) in gaming revenue for the three months to...
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