Capital deregulation on Vietnam's large casino plans

The Vietnamese government is reportedly planning to ease investment conditions for major casino projects, a plan that could theoretically qualify economically-qualified locals to take part ...

author avatar

0 Followers

The Vietnamese government is reportedly planning to ease investment conditions for major casino projects, a plan that could theoretically qualify economically-qualified locals to take part in a pilot scheme that would allow them to gamble.

According to a new report by VnExpress news outlet, the $2 billion minimum capital commitment mentioned in a 2017 media story will remain in place under relevant government statutes. 우리카지노탑 However, investors have the right to apply for an investment registration certificate, an essential step in the local process, after spending 50% of the cost of capital, or $1 billion.

According to VnExpress, what matters when calculating the minimum capital an investor must spend on a large casino project is that capital investment in other projects (or infrastructure projects linked to these zones) in the Special Administrative Economic Zone (SAEZ) is taken into account.

The idea is "to address the challenges of investors and attract investment in casino and infrastructure projects linked to SAEZ, particularly in Bandon, an area where infrastructure is deemed to be underdeveloped," the news platform added, citing the Treasury Department.

Bandon is a rural area in the northeastern Vietnamese province of Quang Ninh. Sun Group, described as one of the largest real estate companies in Vietnam, is reportedly developing a casino resort in Bandon.

Corona Resort and Casino on Phu Quoc Island, close to Vietnam\'s border with Cambodia, opened in January with permission for economically eligible Vietnamese to use its gaming facilities.

Top
Comments (0)
Login to post.