The integrated resorts in the SEZs must have minimum investment capital of VND44 trillion.
Under the draft law on SEZs which has been submitted to the NA, three SEZs will focus on developing specific business fields based on their advantages.
Van Don will strive to develop hi-tech fields, hi-tech support industries, ecotourism, cultural tourism, culture industry, aviation services and aviation logistics, commercial services and shopping.
Bac Van Phong will focus on information technology, electronics, precise mechanical engineering, international cargo and passenger ports, port logistics services, resort tourism, trade and finance.
As for Phu Quoc, resort tourism, eco-tourism, international conference and exhibition, commercial services and shopping, asset management, healthcare, high-quality education services and biotechnology will be top priority.
The National Assembly Committee for Legal Affairs commented that tourism will revive top priority in all three SEZs. This includes services and integrated resorts with casinos. The committee warned that the situation may lead to competition among three SEZs.
Minister of Interior Affairs Le Vinh Tan said casinos are a special type of business which should be developed in SEZs. However, it is necessary to note if Vietnamese can go to the casinos and how to develop casino business.
Do Van Sinh, a National Assembly deputy, commenting that similar business fields are designed for the SEZs, raised a question whether Vietnam would have too many casinos.
Sinh emphasized that SEZs need to be ‘special’ and therefore, Vietnam needs policies to be designed in a way to help SEZs become ‘internationally competitive’.
“It would be unreasonable if Vietnam has three casinos in 3 SEZs which enjoy the same preferential policies and compete with each other,” he commented, suggesting that it’d be better to develop one casino with international stature.
In reply, Minister Nguyen Chi Dung from the Ministry of Planning and Investment (MPI) said the ministry has designed three different core business fields for the three SEZs, while subordinate business fields could be the same.
“In principle, we won’t let the SEZs compete with each other, but they will complement each other and compete with other countries in the world,” Dung said.
Dung said other countries have opened casinos to attract cash flow.