Vietnam officials have made progress in the development of a casino in Van Don, Quang Ninh Province.
According to local reports, the plan is for the casino to launch in 2032, with the lucrative project being touted as a key boost to tourism in the area.
The zone is cited as a special economic zone as the country looks to tap into the industry to enhance economic growth. It builds on government proposals and would be one of just two casinos in the region, which cater to local consumers. Boosting global investment is the focal point of the zone , as it looks to bolster tourism and the region’s global economic status.
Furthermore, government figures have underlined the employment opportunities that come with the building of the casino – in what is a 70-year long term project.
It’s a project that also looks to strengthen the region’s fight against the black market. The country has also been urged to elevate AML safeguards amid concern from a UN report, which highlighted the growing threat of money laundering.
Earlier in the year, the FATF placed the Philippines on its Increased Monitoring list, with the country’s president issuing at priority that it takes action to be removed from the list.
Key to the instructions for the removal from the list was the government increasing its framework over certain bodies, including the Philippine Amusement and Gaming Corporation (PAGCOR).
PAGCOR is state-owned and holds governance for the regulatory framework of the Philippines and a host of regions and casinos across South East Asia.
