Building new casinos in Vietnam is sold with all kinds of government roadblocks
For whatever reason, in Asian and Russian countries, they like to zone off their casinos. Everything has to be in a designated ‘economic zone,’ perhaps showing that a lot of things in these countries are not meant to make lots of money, at the very least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal gambling enterprises remain a fairly new concept here, as well as 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 look at by the Japan Times wants to build a brand 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 region of Vietnam. He also really wants to get a gambling house going in Ha Long City on nearby Tuan Chau island, next to a new marina that will be checking there.
If he can get ‘er done, Tuyen would be one of only a handful of developers to crack the bureaucracy grid that has very 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 minimum of US$4 billion be committed to any projected resort-casino plan; a number that is pretty Continue reading “Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam”