Wednesday, August 10, 2022

Ministry gets authority to grant casino licenses


Vietnam’s Ministry of Finance has been given the authority to grant casino and gaming service licenses in the country, under a newly-issued circular, VietnamNet reports.

Vietnamese casinos were traditionally foreigners-only - however, starting from March this year, a provision was made to allow the entry of locals into certain casinos through a three-year pilot program.

Under Decree 03/2017/NĐ-CP, eligible investors wishing to invest and operate in services, tourism and entertainment businesses with casinos must invest a minimum capital of US$2 billion and submit plans to manage the negative impacts of casino operations.

Last December, Prime Minister Nguyen Xuan Phuc announced two casinos are approved under the pilot scheme, one on Phu Quoc Island, and one in the Van Don Special Economic Zone near the Chinese border.

There is speculation that Ho Tram may also be allowed to be part of the pilot program.

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