The Ministry of Finance (MOF) has proposed some amendments to Decree 03 of 2017 on casino business, aiming to create favorable conditions for investors.
In order to avoid overlap in inspections conducted by interdisciplinary inspection teams and those carried out by provincial-level People’s Committees, the MOF suggests that in a year, a casino business will be subject to only one inspection, either by the MOF or the People’s Committee of the province where it is headquartered. For inspections conducted by provincial-level People’s Committees, inspection results must be sent to the MOF and related state management agencies for monitoring and management.
Regarding advertising for casino business, the MOF suggests permitting casino businesses to run advertisements in localities where their casino complexes are located to attract more players.
Particularly, the MOF suggests that for extreme difficulty-hit areas like Van Don economic zone of Quang Ninh province, if a casino business also invests in other infrastructure projects in the localities, the capital disbursed into such infrastructure projects would be regarded as investment capital of the casino complex but must not exceed 25 percent of the investment level of the casino project.
According to the MOF, some regulations on conditions for running casino businesses would remain unchanged. Specifically, the investment capital of a casino project would be at least USD 2 billion, and may be put into operation only after its disbursed capital reaches USD 1 billion.- (VLLF)