Vietnam’s Ministry of Finance is seeking to relax the requirements for casino investors in a bid to boost development activity in the country’s special administrative-economic zones.
Under the actual country’s current regulations, interested casino developers must plough at least $2 billion into the establishment of integrated resorts with dedicated casino areas and to make a 50% disbursement prior to receiving an investment registration certificate from local authorities.
The Vietnamese Ministry of Finance is urging the country’s Prime Minister to relax the current regulations and to include investment schemes beyond ones involving casino gambling in the special administrative-economic zones or infrastructure projects connected to those zones when calculating the minimum capital an interested investor must allocate before being granted a certificate for such development projects.
The Finance Ministry said it believes its proposal, if adopted, could encourage investment into casino resort and infrastructure projects connected to the country’s special administrative-economic zones, especially in Van Don (a rural district in the Quang Ninh province in Northern Vietnam), which is said to be in a dire need of infrastructure improvements.
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