The latest draft decree issued by the Ministry of Finance proposes allowing Vietnamese residents to enter casinos.
Inside a casino
According to the draft, residents aged 21 or over, and considered ‘financially capable’, may be allowed to enter casinos.
The details of the draft regulation have not been announced and the prime minister will have the final decision as to which customers will be allowed to visit casinos.
Currently, casinos in Vietnam are only open to foreigners. After a five-year debate over the issue, Vietnamese may gamblers may finally be welcome, pending the decision. In June 2013, the Politburo approved a pilot programme to give access to Vietnamese customers to casinos within the Van Don Economic Zone in Quang Ninh Province.
NA Justice Committee Chairman Nguyen Van Hien said, “It is a matter of fact that Vietnamese citizens are already flocking to casinos in other countries. We need to legalise gambling for our own citizens with foresight, because of the growth of criminal elements around the industry without strict management.”
Requirements for investors opening new casinos system would also be loosened. Previously, gaming companies were required to have a minimum of 10 years experience in the industry to commit to investments of no less than USD4 billion. This stipulation made it nearly impossible for Vietnamese firms to operate in the industry.
The new draft only requires 5 years of experience. Other details from the draft regulation have also been leaked, such as a minimum requirement of USD20 million committed investment for a company wishing to open an operation with one gambling table and 10 machines.
The Ministry of Finance will work together with the Ministry of Planning and Investment and the Ministry of Culture, Sports and Tourism to regulate casino advertisement.
Companies running casinos would also retain the right to refuse turn away customers if they do not meet the requirements. The companies would also be asked to take active measures to prevent criminal activities such as money laundering.
The draft also states that the maximum fine for any violations would be VND200 million. Companies found to have committed violations more than once would have their licenses revoked for a period of 18 months. Other bans, such as online gambling, would remain.
Casino ban may be lifted for Vietnamese citizens Related image(s)
0 comments:
Post a Comment