Vietnam to Ease the Capital Spend Rules on Casino Business
The Casino scheme investors are looking for economic development and soon consider the non-casino infrastructure as the gaming license’s total capital value. As per reports, the new terms and conditions will be benefitting the Van Don Economic Zone situated in the Northern part of Quang Ninh.
The new rules require a minimum investment of capital worth US$2 billion for the casino project; the previous investment amount was US$4 billion. The disbursed capital requirement rule before granting the gaming license worth US 1$ billion remains the same.
Reportedly, if the proposal is passed, then it can further help Sun Group project in Van Don. Till now, there has been only one casino resort in Vietnam, the Corona Resort and Casino, known for being the only gaming space in Vietnam that allows gambling services.
The ministry’s proposal allows the underdeveloped regions to make investments to build a robust infrastructure. The Vietnam News Agency states that Van Don International Airport has invested nearly 7.5 trillion Vietnamese dollars, i.e., (US$ 322 million). The 60km stretch of Ha Long-Van Don Expressway had a total investment of VND12 trillion, and the project is to be completed by 2021.