Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building new casinos in Vietnam is sold with all sorts of government roadblocks
For some reason, in Asian and Russian countries, they like to zone off their casinos. Every thing has to be in a designated ‘economic zone,’ perhaps showing that a lot of things in these national nations are not meant to make serious cash, at the least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal casinos are still a fairly brand new concept here, not forgetting almost solely directed at a foreign market, as locals are mostly barred from casino gambling. Now a high-profile Vietnamese businessman Dao Hong Tuyen, listed as a CEO to look at by the Japan Times wants to construct a fresh casino project via his Tuan Chau Groupand its US partners into the Van Don Administrative Economic Zone in Quang Ninh province into the northeast region of Vietnam. He also would like to get a gambling house going in Ha Long City on nearby Tuan Chau island, adjacent to a new marina that will be checking here.
If he could possibly get ‘er done, Tuyen would be one of just a handful of designers to crack the bureaucracy grid that has long held Vietnam lagging behind its Asian brethren in this arena. A huge sticking point for most casino investors is the notably odd dictum by the Vietnamese government that a minimum of US$4 billion be focused on any projected resort-casino plan; a quantity that is pretty daunting for also well-funded builders in the gaming industry these days. Continue reading Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam