Presenting the draft Decree on casino business activities to the National Assembly Standing Committee on the morning of August 14, Minister of Finance Dinh Tien Dung said that in 2012, the revenue of 5 operating casinos was about 930 billion VND, payable to
Through studying the experiences of other countries and the current status of casino business activities in Vietnam, the Ministry of Finance believes that the small casino business model such as 5 currently operating enterprises is ineffective and does not contribute much to revenue.
Perspective of Ho Tram project.
Casino business licensing must meet high and strict standards such as large investment capital (over 4 billion USD, investors must have financial capacity and 10 years of international experience in organizing and
“These standards are intended to limit casino business licenses; only large investors with strong financial potential and international business management techniques can meet these conditions.
Regarding regulations on players, the representative of the drafting agency said that casino business is a field that has the potential to impact social order and safety.
“The experiences of different countries are different, some countries do not allow natives to play, some countries allow even natives to play with strict control mechanisms.
The majority of opinions in the Standing Committee of Finance and Budget (the inspection agency) agree with this regulation.
Therefore, the inspection agency requests that the Government research and, in the immediate future, pilot allowing Vietnamese people who meet strict and specific conditions (on income thresholds, personal status, etc.)
Vice Chairwoman of the National Assembly Nguyen Thi Kim Ngan Ngan said that foreign currency bleeding is clearly a reality when Vietnamese people are bringing money into casinos in Cambodia, Macau…
Questioning about opening the door for Vietnamese people to enter casinos, National Assembly Chairman Nguyen Sinh Hung said that if they are allowed in, there must be a legal basis for management.
In terms of licensing and casino development planning, many opinions say that it is necessary to clearly stipulate to what extent Vietnam can develop this type.
According to National Assembly Chairman Nguyen Sinh Hung, under the condition that Vietnam must clearly stipulate which regions allow casinos to open and which do not.
Closing the discussion, Vice Chairwoman of the National Assembly Nguyen Thi Kim Ngan said that comments will be recorded for the drafting committee and verification agency to study and report at the next meeting.
According to the Ministry of Finance, casino business activities have been piloted since 1992. Currently, 7 businesses are licensed to operate casinos, of which 5 are small-scale projects (about 15 game tables and 80 game machines for each business).
For the South Hoi An Project (Quang Nam), the Prime Minister approved the licensing principle, but currently the project has not been implemented.
Through an actual survey, the Ministry of Finance said that currently, casino business activities still have many limitations due to lack of planning, uneven distribution, and small investment scale of the 5 previously licensed businesses.
