Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building new casinos in Vietnam includes all kinds of government roadblocks
For whatever reason, in Asian and Russian countries, they like to zone off their casinos. Everything needs to be in a designated ‘economic zone,’ perhaps indicating that many things in these countries 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 are still 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 look at by the Japan Times wants to construct a new casino project via his Tuan Chau Groupand its US partners in the Van Don Administrative Economic Zone in Quang Ninh province in the northeast area of Vietnam. He also would like to get a gambling house going in Ha Long City on nearby Tuan Chau island, next to a new marina that will be opening there.
If he will 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 Asian brethren in this arena. A huge sticking point for most casino investors happens to be the somewhat odd dictum by the Vietnamese government that the the least US$4 billion be committed to any projected resort-casino plan; a quantity that is pretty daunting for even well-funded builders in the gaming industry these days. […]