Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building casinos that are new Vietnam comes with a myriad of government roadblocks
For whatever reason, in Asian and Russian countries, they like to zone off their casinos. Every thing needs to be in a designated ‘economic zone,’ perhaps indicating that a lot of things in these nations aren’t designed to make a ton of cash, at the very least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal gambling enterprises continue to be a fairly brand new concept here, and undoubtedly almost exclusively targeted at a foreign market, as locals are mostly barred from casino gambling. Now a high-profile businessman that is vietnamese Hong Tuyen, listed as a CEO to watch by the Japan Times wants to build a brand new casino project via his Tuan Chau Groupand its US partners into the Van Don Administrative Economic Zone in Quang Ninh province in the northeast region of Vietnam. He also would like to get a gambling house going in Ha Long City on nearby Tuan Chau island, next to a marina that is new will be checking here.
If he will get ‘er done, Tuyen would be one of only 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 many casino investors has been the somewhat odd dictum by the Vietnamese government that the the least US$4 billion be devoted to any projected resort-casino plan; a number that is pretty daunting for even well-funded builders in the gaming industry these days. [Read more…]