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Saturday, February 11, 2012




Vietnam Briefing is a magazine and daily news service about doing business in Vietnam. We cover topics relating to the Vietnamese economy, the market in Vietnam, foreign direct investment and Vietnamese law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates



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Largest Casino in Vietnam Closes Over Permit Violations

Jun. 30 – The biggest casino in the country has been ordered to shut down due to permit violations.

Located in Danang, the casino is a joint-venture between U.S.-based Silver Shores and Hoang Dat of Hanoi. Hoang Dat Silver Shores International Entertainment Co. will only be allowed to reopen the casino and hotel complex after it complies to regulations.

Gambling remains illegal in the country although the government allows it under special licenses and conditions. Only foreign passport holders are allowed to gamble in the country.

The casino was faulted for having employed too many foreign workers, violating labor law that says expatriates may only be hired for certain specialized and high-tech roles. It was also found to be operating more than the allowable eight tables while opening the casino for business despite the complex being uncompleted.

The Silver Shores International Resort began construction in 2006 with a budget of US$160 million and only opened early this year. The luxury resort has been trying to attract tourists from neighboring China, where gambling is also illegal.

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This entry was posted in Business, Danang, Economy and Politics, FDI and Foreign Trade, Legal and Regulatory. Bookmark the permalink.

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