The Vietnamese Government has shown keen interest in creating a favorable economic and political atmosphere for the tourism sector and the gambling industry as well. Its most recent action in that direction was an agreement for the establishment of a casino at Phu Quoc Island.
The plans of the government to further strenghten Phu Quoc as an international destination for tourism and entertainment was announced by the Chairman of Kien Giang Province. In an interview for the Tien Phong newspaper, he explained that the Vietnamese Prime Minister has given permission for further construction of various business centers, infrastructure, hotels and resorts on the Island. According to the Vietnam Politburo, the island is a crucial point for establishing favorable reputation of Vietnam as a tourist destination.
The island Phu Quoc has the biggest size of all islands in Vietnam with the best beaches in the country. It has four large lakes which provide an abundant source of fresh water for domestic and economic usage. Statistics of last year show that there were almost half a million tourists who visited, an increase of 30% compared to 2012. The island has been growing with a rapid rate of 25% a year and there are no signs of that rate to decrease in the near future. Another 200 projects have been proposed for realization of which more than a hundred have acquired permits for investments. The projects cover close to 5,000 hectares and their overall investment is estimated to reach VND 135 trillion.
The taxes earned solely from the island’s industry has provided the Vietnamese government with a trillion Vietnamese dongs last year and this number is to increase with another VND 100 billion this year. The island is happy to show an increase of per capita income to $3,500 per person per year.
The focus on attracting foreign investors is also shown by the improved technical infrastructure of Phu Quoc. The island is connected to the national transport system. Klen Glang Province’s Le Van Thi hopes that the acceptance of a casino on the premises of the island would show foreign investors that the island is to become a high-standard business area with friendly authorities and opportune regulations. The chairman of the province did not reveal any inside information on how the auction and the bidding system for the new casino will be organized, yet he assured that investors have already shown interest.
Another Vietnamese hotspot for gambling entertainment – the Grand Ho Tram Strip, has reported to have elected a new president. The new president is to be Shaun McCamley. On its press release, the company explained that the Australian has an ‘extensive Asia gaming experience in both marketing and operations.’ Mr. McCamley is a typical example of how perseverance and talent lead to success. He began his career path thirty five years ago as a croupier and made his way up by becoming business partner at the Euro Pacific Asia Management. McCamley looks forward to his new position as the Grand Ho Tram Strip has recently acquired new investor’s funding from two of its shareholders, and the resort is planning to raise its standards.
