return icon

Chinese attempt to bring casinos into Vietnam

VietNamNet Bridge - Will the increasingly high investments by mainland China, Taiwan, Hong Kong and Macau bring opportunities or challenges?

VietNamNet Bridge - Will the increasingly high investments by mainland China, Taiwan, Hong Kong and Macau bring opportunities or challenges?

Related news


Vietnam remains “closed” in its policies relating to casinos. However, investors still put high hopes on the country as an ideal place for casino projects.

The Grand Ho Tram Strip in Ba Ria – Vung Tau province now receives a large proportion of players from China and South Korea.

The same is occurring with hotels and resorts allowed to run casinos for foreigners in the central and northern provinces of Vietnam.

Experts estimate that if Vietnam gives a nod to casino projects, the casino industry may bring revenue of $3 billion a year. Experienced investors from Macau or Hong Kong are thus interested..

Chinese have not only been hunting opportunities in Vietnam, but in South East Asia and all over the world as well. They have been trying to acquire assets which are getting cheaper in countries suffering from an economic crisis.

The US newswire Bloomberg reported that Chinese are now eyeing strong brands in Europe.

China, for example, sent word intimating that it wants to buy Potsdamer Platz, a high-end shopping center in Berlin, Germany, and Pirelli, a well-known tire manufacturer in Italy.

A lot of European strong brands have fallen into Chinese hands, including Swedish Volvo (automobile), Peugeot Citroen (automobile), Sonya Rykiel (fashion), Piraeus (seaport), Pizza Express (food) and Aquascutum (fashion).

The total value of the merger and acquisition deals Chinese made in 2014 increased significantly by 41 percent, while half of the deals had value of over $1 billion.

Chinese have also injected their money into mammoth infrastructure projects in South America and mining projects in Africa. They even want oil & gas projects in North America. As Russia is facing a lot of difficulties, China has offered tens of billions of dollars through deals in the oil and gas sector.

What about Asia and Vietnam? If everything goes smoothly, the Asian Infrastructure Investment Bank (AIIB), a Chinese-initiated bank, would become operational in 2015 with initial investment capital of $50 billion, half of which will come from China.

The financial institution is expected to help China and its partners turn a dream into reality on the Silk Road, on land and at sea, which links the west and the east.

In order to implement the ambitious plan, China is now moving ahead with a project on a railway linking China with South East Asia.

The Chinese government is encouraging its businesses to make outward investments, while trying to turn the yuan into a convertible currency for international payments.



E-commerce accounts for 60% of Vietnamese digital economy

Vietnam’s digital economy saw the gross merchandise value (GMV) reaching US$23 billion last year, with e-commerce making up over 60%.


Vietnam in sustainable management phase of Covid-19 pandemic: WHO representative

3 million SIM cards with incorrect information to be locked by March 31

About 3 million mobile phone subscribers whose personal information registration doesn’t match the national population database will have their phone service cut off by the end of this month, the Ministry of Information and Communications has said.


Corporate bond issuance surges in March after prolonged inactivity

Vietnam Airlines announces flight cancelation due to strike in Germany

Strikes at Germany’s Frankfurt Airport led to a massive cancellation of flights from Hanoi and HCMC to the German metropolis from March 26-28.

Bamboo Airways to issue nearly one billion shares

Bamboo Airways has revealed plans to raise nearly VND10 trillion (US$424.1 million) by issuing 996.2 million shares.

SEA Games torch carried through streets of Hanoi

Brimming with symbolism, the torch was ceremoniously lit from a small lamp that had landed on Vietnam’s soil two days prior, and had been carefully guarded at the Cambodian Embassy.

British experts discover new untouched caves in Quang Binh

Five new caves where humans have never set foot were recently discovered in Lam Hoa commune of Tuyen Hoa district in the central province of Quang Binh by experts of the British Royal Cave Association.

30 Indonesians fall victim to Malaysia human trafficking ring in Vietnam

The police in Ho Chi Minh City have busted a human trafficking ring involving Malaysian nationals that allegedly deceived 30 Indonesians for property appropriation in Vietnam.

Over 103,000 TB cases detected in Vietnam last year

Vietnam detected 103,120 tuberculosis (TB) patients in 2022, up nearly 31% year-on-year, and 1.8% against that of 2020.

Vietnam commits to cross-border water development goals: Deputy PM

Vietnam pledges to further enhance cooperation with international organisations and partners to achieve sustainable cross-border water development goals, Deputy Prime Minister Tran Hong Ha has said.

Vietnam tourism promoted in Japan

A workshop on Vietnamese tourism and carriers, co-hosted by Vietnam Airlines and travel operator Thien Minh Group (TMG), took place in Tokyo on March 24, gathering 80 travel companies and airlines from both nations.

Hanoi seeks support from UNESCO in restoration of Kinh Thien Palace

Hanoi asked for continued support from the UNESCO World Heritage Centre (WHC) for a project to restore Kinh Thien Palace in the Thang Long Imperial Citadel in Hanoi, which was recognised as a UNESCO World Heritage Site in 2010.

CAAV suggests more time for piloting biometric authentication

The Civil Aviation Authority of Vietnam (CAAV) has proposed continuing pilot application of biometric authentication (facial recognition) at airports’ check-in desks.

Netflix to set up representative legal entity in Vietnam

Netflix is carrying out procedures with the Ministry of Planning and Investment to establish its representative legal entity in Vietnam.