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Legal frame for investing in the field of casino in Vietnam

Legal frame for investing in the field of casino

Legal frame for investing in the field of casino

In recent year, some foreign investors are interested in investment opportunity in the casino field in Vietnam, thus, we would like to provide some initial information for investor’s ease reference.
Regarding to Casino Operation in Vietnam, kindly note that at present Vietnam Government is now finalizing legal system for managing Casino Operation. We expects that the Government shall issue the Legal Instrument on this matter in short time.

Notwithstanding this, Vietnam has licensed a series of huge tourist projects that include casinos, including New City, worth USD 4.3 billion in Phu Yen Province, Silver Shores Hoang Dat (USD 160 million) in Da Nang, Nam Hoi An (USD 4 billion) in Quang Nam Province and Hoang Dong Lang Son (USD 2 billion). Elsewhere, in Phu Quoc Island, local leaders have been looking for investors for a casino planned since 2007. Ha Giang and Quang Binh Provinces also intend to build casinos on a rocky UNESCo geo-park and next to a natural reserve named in UNESCO'S world heritage list.

We also would like to note that Vietnam Government currently bars Vietnam Citizens from entering casinos and under the drafted Decree on management of casinos operation, minimum capital investment for opening a casino in Vietnam is 4 billion USD. Furthermore, the investor must have at least 10 years experiences in operating casinos before making investment in this field in Vietnam.

Here above is our short introduction of casinos operation in Vietnam. We do hope that such information may be helpful for foreign investors.

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