Economists in Vietnam have backed moves by the Ministry of Finance to loosen rules governing locals casino gambling, with some even calling for a nationwide lifting of existing bans in order to increase oversight, boost state revenues and prevent funds from flowing to foreign gambling destinations.
News outlet Tuoi Tre spoke to a number of economic experts and commentators, with all expressing support for some kind of industry overhaul. This follows recent reports that the Ministry of Finance wants to implement a permanent exemption for Corona Resort & Casino in Phu Quoc and to replace a requirement under the program to prove wealth with a simpler casino entry fee model.
Dinh Xuan Thao, former head of the Institute for Legislative Research under the National Assembly, told Tuoi Tre that the current model only serves to encourage locals to travel overseas to gamble.
“Casinos are already licensed nationwide, yet Vietnamese are barred from them. This is inconsistent. Expanding access would allow for better oversight,” he said. He added that allowing locals to play domestically would provide the government with the ability to monitor player behavior and limit illegal underground operations.
Economist Ha Ton Vinh said locals should be allowed entry into all licensed Vietnamese casinos – be they gaming rooms in hotels, small-scale casinos or large integrated resorts – based on the successful models deployed in jurisdictions like Macau and Singapore.
He also proposed a nationwide pilot program of up to five years and the establishment of a dedicated casino regulatory body under the Ministry of Finance.
Nguyen Quang Dong, head of the Institute for Policy Studies and Media Development, agreed that casino gambling should be an option for adults although he prefers limiting access to dedicated gambling zones.
There are currently nine licensed casinos in Vietnam including three integrated resorts: Corona in Phu Quoc, The Grand Ho Tram outside Ho Chi Minh City and Hoiana near Hoi An.
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