Vietnam’s Ministry of Finance has proposed easing minimum investment regulations for building integrated resorts to attract more investment, local media reports.
The MoF has suggested that capital invested in other projects in Vietnam’s special administrative-economic zones (SAEZs), or infrastructure projects connected to the zones, be taken into account when calculating the minimum capital an investor needs to disburse before receiving an investment certificate.
Under Vietnam’s regulations, which were introduced in 2017, investors must commit a minimum of $2bn and must make a minimum disbursement of $1bn. That’s a reduction from the $4bn level set in earlier drafts of the decree.
Vietnam has identified three areas as SAEZs, with special laws and incentives to attract investors. One is in Van Don in the north of the country, where a resort is being built by local developer Sun Group; one is in Bac Van Phong in the central coastal province of Khanh Hoa and Phu Quoc in the south, where the Corona Casino and Resort opened earlier this year.
However, the reports added several ministries are opposed to the MoF proposal, including the Ministry of Planning and Investment and the Ministry of Defence. One objection is that it would be unfair to those who have already invested.
Source: Asia Gaming Brief