Vietnam’s Ministry of Finance has reportedly rejected a proposal to develop a new integrated resort on the Cam Ranh peninsula, preferring to wait until a decree guiding the nation’s casino operations is finalized. Let’s hope this is a sign that they are finally serious about a resolution.
For years now we’ve heard talk of a new decree that would clear the way for some Vietnamese to enter local casinos provided they fulfil certain financial criteria but after numerous false starts and dozens of amended drafts progress has been slow to say the least.
It has also provided a series of frustrating false starts for Vietnam’s six licensed casinos – headed by the five-star Ho Tram Resort Casino which represents a US$600 million stage one of what will ultimately be a US$4.2 billion investment on the country’s spectacular south-east coastline.
Ho Tram Resort Casino
Vietnam’s Prime Minister Nguyen Tan Dung recently approved a seventh casino project to be built on Phu Quoc Island, but it makes much more sense to finalize the casino decree before giving the go ahead on any further projects.
Could the Vietnamese government finally be getting their act together?
