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 off their casinos. Everything needs to be in a designated ‘economic zone,’ perhaps showing that a lot of things in these countries aren’t designed to make a lot of cash, at the least not if they’re legal.
New Gambling Enterprises on the Runway
Vietnam fits this mold, and legal gambling enterprises continue to be a fairly new concept there, not to mention almost solely 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 view by the Japan Times wants to build a fresh casino project via his Tuan Chau Groupand its US partners in 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, next to a marina that is new will be checking here.
If he can get ‘er done, Tuyen would be one of only a handful of developers to crack the bureaucracy grid that has long kept Vietnam lagging behind its brethren that are asian this arena. A huge sticking point for many casino investors was the somewhat odd dictum by the Vietnamese government that the the least US$4 billion be committed to any projected resort-casino plan; a number that is pretty daunting for also well-funded builders in the gaming industry today. Continue reading “Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam”