Prime Minister Nguyen Tan Dung has approved plans for an entertainment complex along with a casino to be built in the southern island of Phú Quốc.
Phú Quốc, often referred to the “Pearl of Vietnam,” has seen a tremendous rise in tourist numbers over the past couple of years and development has ramped up in massive fashion due to a visa exemption for foreign visitors and designation as a special economic zone.
The construction of major tourist sites such as VinPearl Land, a resort featuring both amusement and water parks are in full swing, so this latest news is following the present narrative.
The casino, according to Tuoi Tre, will occupy 30,000m² and have 200-400 roulette tables and 2,000 gaming machines. In addition to the casino, an international 5-star hotel and conference center are slated to be built. Capital investments of $4 billion are said to be required in order to open gaming facilities.
Further, in legislation put forth last August, gambling could be legalized for Vietnamese nationals a step towards positioning the country as a hub for the casino industry.
We wonder how this large-scale development will affect the initial draw of the island's quiet secluded beaches.
Beyond that, some experts, such as economist Pham Chi Lan, have expressed doubts about the potential benefits of such developments.
"The money we may earn from the Vietnamese who spend at casinos in Vietnam instead of the ones in Singapore or Cambodia may not be enough to compensate for the economic and social consequences brought about if gambling is widespread and legalized in Vietnam," she told ABC News.
