In the works since 2007
A casino resort complex may be developed at Phu Quoc Island in the southern Vietnamese province of Kiên Giang. A new casino resort was initially proposed in 2007; if it comes to fruition, it will be part of a larger tourism and entertainment complex, according to VietNamNet Bridge and GGRAsia.
According to some reports, the project will require foreign investors who are willing to spend at least US$4 billion. But so far, investors aren’t lining up, reports the Tuoi Tre News. “There were previous plans to construct tourism centers that include casino components,” said Huynh Vinh Lac, of the People’s Committee of Kien Giang Province. “But the process of calling for investment from international channels yielded no results for many reasons. This time, the local administration is expected to ask relevant state agencies to choose a local investor.”
In its plan to develop Phu Quoc island into a special economic zone, the province has set aside an area of 30,000 square meters for casinos with 200 to 400 roulette tables and 2, 000 gaming machines, in addition to conference centers and a 3,000-room, five-star hotel. The Ministry of Planning and Investment and Kien Giang provincial authorities will accept bids and oversee construction of the project; the casino portion will be licensed for 30 years.
Vietnam has several casinos, but bar Vietnamese people from gambling unless they hold foreign passports, reported GGRAsia. Now the country’s government is considering a change in the law that would allow citizens to enter casinos.
A draft bill under review by government agencies would allow Vietnamese under certain conditions. Vietnamese who are over 21 years of age, financially secure and without any criminal record would be permitted to play in selected casinos. An entrance fee is also being considered.
Proponents of liberalizing the rules for casino operations say it would help keep money inside the country that Vietnamese gamblers now spend abroad, especially in neighboring Cambodia.
