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 reasons uknown, in Asian and Russian countries, they like to zone their casinos off. Everything needs to be in a designated ‘economic zone,’ perhaps indicating that most things in these nations are not meant to make big money, at the least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal gambling enterprises remain a fairly brand new concept here, not forgetting almost exclusively aimed 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 view 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 area of Vietnam. He also wants to get a gambling house going in Ha Long City on nearby Tuan Chau island, adjacent to a new marina that will be opening there.
If he could possibly get ‘er done, Tuyen would be one of only a handful of designers to crack the bureaucracy grid that has very long held Vietnam lagging behind its brethren that are asian this arena. A huge sticking point for casino investors that are most has been the notably odd dictum by the Vietnamese government that a the least US$4 billion be committed to any projected resort-casino plan; a quantity that is pretty daunting for also well-funded builders in the gaming industry today. (more…)