A potential new law is being cbalance economic growth and social safeguards.
Vietnam.- the Ministry of Finance is undertaking a review of its casino and betting regulations. The review focuses on Decree 03/2017/NĐ-CP. Minister Nguyen Duc Chi said there was a need to adapt to digital transformation and has proposed the development of a dedicated law to regulate casinos, sports betting, lotteries and other games. This would replace the current framework of decrees, providing a more cohesive and long-term regulatory approach, he said.
Chi said the goal was to “balance economic benefits with social safeguards while reducing reliance on volatile international tourism.”
Currently, Vietnam has nine licensed casinos, including three large-scale projects, located in Phu Quoc, Ho Tram, and Nam Hoi An, alongside six smaller casinos that were licensed before the decree. Despite their contributions to job creation, tourism and infrastructure, all face ongoing financial losses, attributed to the lingering effects of the Covid-19 pandemic and reduced foreign tourism amid regional policy shifts.
Decree 03/2017/NĐ-CP requires a minimum investment of US$2bn for new licences. A pilot scheme allowing Vietnamese citizens to gamble at select casinos has helped retain domestic spending. Nguyen Hoang Duong, deputy director of the Department of Financial Institutions, highlighted these benefits but noted the need for regulatory adjustments to ensure sustainability.
The ministry is also examining betting, including horse racing, dog racing, and international football betting, under Decree 06/2017/ND-CP, with potential changes to eligibility criteria, distribution channels, and advertising rules.
A potential new law is being cbalance economic growth and social safeguards. Vietnam.- the Ministry of Finance is undertaking a review of its casino and betting regulations. The review focuses…
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