On 16 Jan 2017, Vietnam
Prime Minister issued Decree 03/2017/ND-CP on casino including investment
conditions and procedures of foreign investment in service,
tourism, and entertainment with casino, including investment registration of
foreign investors, business operation license eligibility, and notable
three-year pilot plan that allow the Vietnamese playing in the casino.
Vietnam has allowed
investment in the field of casino business and that foreign investors have been
in Vietnam since 1995. But it is expected only when Vietnam law makers loosens
the regulations on casino and gaming business allowing Vietnamese to come and
try luck, foreign investors would be encouraged to invest in constructing real estate,
entertainment projects providing services, tourism and entertainment with
gaming and casino to serve the entertainment needs of the increasing population
of Vietnam, and attract international tourists.
1. Vietnamese will be
accepted at casino during three-year pilot
Casino will accept Vietnamese to try luck whom must be at least 18 years of age, with regular income from 10 million / month or more, and no close family ties with the casino business enterprises. Entrance tickets will be at around VND 1 mil (around USD 50) for 24 continuous hours per person or VND 25 million (around USD 1,200) per month per person.
Casino will accept Vietnamese to try luck whom must be at least 18 years of age, with regular income from 10 million / month or more, and no close family ties with the casino business enterprises. Entrance tickets will be at around VND 1 mil (around USD 50) for 24 continuous hours per person or VND 25 million (around USD 1,200) per month per person.
2. Casino Operation
The casino enterprises can only provide casino in one location and such location must be separated from other business areas of entertainment.
The casino enterprises can only provide casino in one location and such location must be separated from other business areas of entertainment.
3. Investment
Registration and Business Operation License investing and
operating Casino
Eligible investors wishing to invest and operate service, tourism and entertainment with casino have to make investment a minimum capital of USD 2 billion, and submit plans to manage the negative impacts of casino operations.
Eligible investors wishing to invest and operate service, tourism and entertainment with casino have to make investment a minimum capital of USD 2 billion, and submit plans to manage the negative impacts of casino operations.
Investors meet
investment conditions when being granted the investment registration, business
certificate and operation license in casino; has disbursed at
least 50% of total capital as regulated in the investment registration; layout
area for casino business; employ proper casino operation manager; and have
plans approved by the authority.
Decree 03/2017/ND-CP
will become effective from 15 Mar 2017 and do not affect the organizations
which have been granted permission.
Currently casino in
Vietnam allows foreigners such as Do Son Casino in Hai Phong, Ho Tram Casino in
Vung Tau, Casino Aristo International in Lao Cai, Silver Shore Casino in Da
Nang, Casino Royal Quang Ninh, and projects Casino Hoi An, Casino Van Don, and
Casino Phu Quoc.
Easing regulations on
casino business will help prevent flyout capital of Vietnamese to visit casinos
in neighboring countries such as Cambodia, Macao; help better manage the social
order in the sensitive entertainment area in Vietnam and attract foreign tourists.
Furthermore, Vietnam
hopes to further integrate regionally, and internationally, attract billions of
dollars of foreign investment to sustain growth, and make tourism a key sector
to further develop. However, Vietnam will also meet challenges arisen in
management of smuggling, illegal transportation of foreign currency, gold,
silver, precious stones, precious metals, money laundering, high-tech crime and
terrorist financing. Further laws will be issued to cope with the changes along
the way but the loosen of laws on casino and gaming is needed.
The laws on
casino and gaming will be only the beginning of an inevitable trend
that attract investment in tourism and entertainment construction
project. The laws has been evolving and there will be changes
in the coming time which ANT Lawyers in Hanoi, Da Nang and Ho Chi Minh City
will monitor and provide relevant updates.
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