Macau enterprises want to invest in Vietnam's casino
Macau-based 25 leading firms are present in HCM City to seek investment opportunities in sectors such as real estate, management and services in Vietnam.
At the meeting with about 40 Vietnamese large enterprises, mainly in the real estate field in HCM City on late April 16, Jackson Chang, chair of Macau Foreign Investment Agency, the Vietnam's tourism sector has great potential, but unreasonable development has reduced the attraction to foreigners.
One of reasons that limits the total number of foreigners to Vietnam, according to Chang, is due to the lack of casino while this field can bring a huge amount of foreign currency for Vietnam. Chang said, each year, Macau earns more than $30 billion from entertainment services.
Of which, revenue from casino accounted for the majority with $25.5 billion, three times against that of Las Vegas (US). Chang added of $25.5 billion revenue from casino, 90 percent of customers came from China. This showed, Vietnam is very advantageous to invest in casino sector because of having close border with China.
At the meeting, Ha Manh Dung, CEO of Giico International Investment Group, said that his firm is seeking partner to build casino in Cat Ba island (Ha Long-Quang Ninh province) and Mui Ne (Binh Thuan province), but still not successful.
Through this event, Dung will work specially with Macau enterprises to be able to proceed to open casino in these two localities.
Also at the briefing, Fong Choi Peng, president of Macau Chamber of Commerce and Industry said, this is the first step for businesses to get acquainted with the investment environment in Vietnam. In the upcoming time, Macau will boost investment into Vietnam since after the days of the fact-finding, Peng rated very good business environment in Vietnam.
Saigon Tiep Thi - April 18, 2011