brave-ledger-verification=c6e7ae9820dff1923729e2a580efb43dfca7423b9cad80885864c1acc8eb2a22

Tag Archive for ‘Casino’

Vietnam proposes big breaks for special economic zones

The Ministry of Planning and Investment (MPI) has proposed major incentives including prolonged income tax exemptions for businesses and individuals working in special economic zones in three provinces. The investment incentives are contained in a draft Law on Special Administrative-Economic Units that the ministry has prepared for submission to the Government and the National Assembly […]

Phu Quoc Island Determined to Become Special Economic-Administrative Zone

Kien Giang has proposed recommendations to the Government on the application of mechanisms and policies with a view to turning Phu Quoc Island into a centrally-run, special economic-administrative zone by 2020. The province has submitted its proposal to the Prime Minister to request the Politburo to issue a resolution on the development of Phu Quoc Island as to 2020. For sectoral development planning, focus will be laid on review and amendment of the planning to make it responsive to the master planning approved by the Prime Minister. Also, the province will be entitled to flexible mechanism, which allows adjustment of…

Pinnacle’s Casino Development in Vietnam in Jeopardy

Pinnacle Entertainment’s $114 million investment in a casino development in Vietnam is in jeopardy after it was disclosed the development company in charge of the project is in default. The Las Vegas-based regional casino operator disclosed the issue in the company’s quarterly earnings filing Friday with the Securities and Exchange Commission. Pinnacle disclosed that Asian […]

With exports to EU falling, Vietnamese textile makers are hurting

Export orders from European Union (EU) countries are on a downward trend that worried many local garment makers. In 2012, orders for exports to the EU of Luc Nam Garment Factory, under Bac Giang Garment Joint Stock Company, dropped by 10 per cent compared to 2011. Nguyen Van Thien, director of the factory, said that the company had been deprived of $300,000-400,000 due to the decline in export orders from the EU market. Vietnam’s garment export companies have longtime customers in the EU market, but they have all been hard hit by the economic crisis in the European region. This situation lasted from…

Slim chances for Vietnam as control on casinos is tightened

Strict control on casinos has triggered deep concern over Vietnam losing out to neighbouring countries, and the issue takes the spotlight again these days as the biggest-ever tourism complex in Vietnam will soon start operations. MGM Grand Ho Tram in January next year will inaugurate the 541-room tower of the Ho Tram Strip project located on the Ba Ria-Vung Tau coast. The second tower consisting of 559 rooms is set for opening in one and a half years later. Accompanying the inauguration of each tower, one casino will be put into service, with a total of 180 gambling tables and…

Despites strict regulations, Vietnam still attractive to casino developers

VietNamNet Bridge – Analysts believed that with the expected strict control over casino projects, Vietnam would keep casino developers away. However, they are wrong. The construction of the first tower with 541 rooms would start in January 2013 by MGM Grand Ho Tram Beach in the sea province of Ba Ria – Vung Tau. Meanwhile, the execution of the second tower with 559 rooms has kicked off which is expected to become operational after one and a half year. The Ministry of Finance last month opened the draft decree on casino management for public opinion, which said that a project with casino must…

Phu Quoc casino needs a raise

CUU LONG DELTA (VNS)— Authorities in Kien Giang province are continuing to seek developers for a planned casino on Phu Quoc Island. A dozen or so foreign investors have come, studied the conditions for the project’s development and operations, and left. Since the project plan was revealed in 2007, 11 investors have visited Phu Quoc Island for registering investment applications or providing investment consultancy to casino investors, officials of the Kien Giang Department of Planning and Investment told the media after a meeting between the Kien Giang People’s Committee and relevant Government agencies last Friday. Eight…

Work starts on second MGM tower at Ho Tram Beach

Work starts on second MGM tower BA RIA – VUNG TAU (VNS)— The Canadian Asian Coast Development Limited Company (ACDL) yesterday started construction on the second tower of the MGM Grand building at Ho Tram Beach. The work, 127 kilometres from HCM City in the Xuyen Moc District of the coastal Ba Ria–Vung Tau province, was initially planned for next year. However, with the rapid construction of the first tower, further development has been accelerated. The project, which will become Viet Nam’s first large scale integrated luxury beach resort and entertainment destination, will be the largest tourism complex in the country…

Vietnam Opens to More Casinos

South Korea’s Zeta Plan and Investment Company, an alliance of financial and technology firms, hopes to build a casino at the Phong Nha-Ke Bang National Park in central Vietnam. Quang Binh province authorities have suggested two locations to the company. They are Tram Village in Son Trach Commune and Chay Lap Village in Phuc Trach […]

Liberal Casino Rules Sought To Help Vietnam’s Tourism

Hoteliers from HCM City have raised concerns about the draft decree on casino management that the Finance Ministry submitted to the National Assembly Standing Committee on October 8. The draft decree states that only foreigners and overseas Vietnamese holding foreign passports are allowed to enter the casinos. Also, only five-star hotels would be allowed to open casinos, compared to current regulations, which allow four-star hotels in HCM City and three-star hotels in other cities to have casinos. Current regulations allow 75 machines for each four-star hotel and 100 machines for each five-star hotel. According to the HCM City’s…