The Kien Giang People's Committee is also requesting the extension at the casino in the southern province of Kien Giang. It comes at a time when the Covid-19 pandemic has severely impacted the casino's activities during the last two years. The end of the year is when the pilot programme is scheduled to conclude.
According to Nguyen Duc Chi, the deputy minister of finance, the ministry has requested permission to prolong the initiative till the end of 2024. Due of social distance, few foreigners were allowed to enter Vietnam, and Vietnamese citizens were likewise prohibited from leaving the country unless absolutely necessary.
"The past two years have seen a significant impact from the Covid-19 pandemic on Vietnam's production, tourism, and hospitality industry, especially in the casino sector," Chi stated.
"The pilot initiative needs to be extended for two more years in order to accurately assess its efficacy.”
According to the ministry, the Phu Quoc casino operated a pilot plan from 2019 to 2021, serving 240,560 patrons, of which 65% were Vietnamese. In 2019 and 2020, revenue increased by 10% annually, but it fell precipitously during the pandemic.
One of only two casinos in Vietnam that accepts Vietnamese players as part of a trial programme is Phu Quoc Casino; an investment in the other casino, located in the Van Don district in northern Quang Ninh province, has not been permitted.
The Ministry of Finance has declared that the development of casinos in conjunction with extensive general service, tourist, trade, and entertainment zones is suitable. This also applies to the pilot programme.
Professor Ha Tonne Vinh made the following observation after advising and advocating for Vietnamese citizens to be able to gamble in Vietnamese casinos: "The government will have appropriate solutions to strictly manage casino business activities, without disrupting social order, thanks to the pilot programme." However, the policy must also better address the requirements of those who invest in massive casino facilities.
"There are still many large-scale casinos across the country that can be piloted for Vietnamese people to play, such as Ho Tram casino or Nam Hoi An casino, to meet the needs of domestic players, aside from Phu Quoc casino."
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