Việt Nam
Don't think opening a casino is someone coming to play
At Ho Tram casino (Ba Ria – Vung Tau) recently many times away – Photo: DONG HA
USD 14 billion was poured into 5 resort complexes including Van Don (Quang Ninh), Laguna Lăng Cô (Thua Thien Hue), Nam Hoi An (Quang Nam), Ho Tram (Ba Ria – Vung Tau), Phu Quoc (Kien Giang), of which 2 projects Phu Quoc and Ho Tram have come into operation. But both of these $2 billion casinos are in business holding back or losing money.
Experience shows that the Philippines has been very successful in planning the entire manila bay landfill into a population, a resort city invested by many famous casino corporations in the world, players have many options and create a vibrant city without sleep. The total investment in the casino business in Manila Bay is estimated at $15 billion.
It can be said that Vietnam does not have a suitable investment strategy to develop the casino business. Previously, we only licensed casinos with a capital size of USD 4 billion or more, after years of waiting, no international investors came to invest. The government has brought the investment to license the casino business project to $2 billion, nor has any international investors entered.
In addition, with a small market, many barriers, the casino tax rate (excise tax) at 35% is too high compared to casino trading countries such as Singapore, Philippines, Malaysia … The current casino business legal framework has many absurd points, not in accordance with international practice, not encouraging people in need to enter the casino is also making it difficult for resort complexes with casino business.
Do not think of super profitable casino business and only take money from foreigners when licensing casino investment, then create a series of barriers with Vietnamese people. Vietnamese people are not allowed to play casinos, which also makes foreigners lose motivation to play casinos.
If someone visit casinos in Singapore, Malaysia, Philippines, Phnom Penh and Macau, they will often meet Vietnamese players and big players everywhere. The casinos also hire many Vietnamese for convenience.
The spirit of current decrees, circulars or casino documents is limited, controlled, not supervised or managed. As a rule, casinos in Vietnam are allowed to operate 24/24, but Vietnam's casino business still lacks a lot of services. We need to revise the regulations on casino business investment accordingly.
The casino business has too many barriers to remove in time to attract domestic and foreign tourists. Thereby promoting the economic efficiency of billions of USD resort tourism populations that have been invested in many parts of the country.
Mr. Phan Xuan Anh (Chairman of Saigon Boat Company):
Nightlife area by The Canal?
Currently, the nightlife areas of Ho Chi Minh City Ho Chi Minh City is almost overloaded with familiar concentrated addresses such as Nguyen Hue walking street, Tay Bui Vien street. Space is required to stretch these points.
We are thinking about the area on the banks of The Canal, with two routes Truong Sa and Paracel. Singapore has successfully built a no-night resort with a similar landscape to river tourism products. Tourism products on the pier under the boat, along with entertainment services along the banks of the river provide a new nightlife space for tourism.
N.BINH
Professor Ha Ton Vinh has lived and worked for more than 50 years in the US and many Asian countries, teaching business administration at the University of Hawaii, University of California Miramar, visiting professor of Macau Polytechnic Institute.
Professor Ha Ton Vinh
Professor Ha Ton Vinh
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