Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building new casinos in Vietnam comes with all sorts of government roadblocks
For reasons uknown, in Asian and Russian countries, they like to zone their casinos off. Everything has to be in a designated ‚economic zone,‘ perhaps showing that a lot of things in these countries aren’t meant to make a lot of cash, at least not if they’re legal.
New Gambling Enterprises on the Runway
Vietnam fits this mold, and legal gambling enterprises remain a concept that is fairly new, as well as almost exclusively targeted 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 watch by the Japan Times wants to build a fresh casino project via his Tuan Chau Groupand its US partners into 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 here.
If he could possibly get ‚er done, Tuyen would be one of just 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 was the somewhat odd dictum by the Vietnamese government that a the least US$4 billion be focused on any projected resort-casino plan; a number that is pretty daunting for even well-funded builders in the gaming industry today.