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Investors eyeing Vietnam

13 April 2007

VIETNAM – As reported by AFP: "Foreign investors are vying to build Macau-style luxury gambling and hotel complexes in a beachside resort area close to Vietnam's buzzing southern commercial hub of Ho Chi Minh City.

"US-based Winvest Investment LLC is now clearing land for the five-star Saigon Atlantis hotel and casino complex after winning in-principle government approval, said the top investment official of Ba Ria Vung Tau province.

"Another luxury project, the Ho Tram Strip which Canada-based developers Asian Coast Development Ltd plan to start building later this year, would feature five themed casinos and a Greg Norman-designed golf course.

"…Under Vietnam's current laws which ban gambling, the resorts would cater to foreign tourists, the only people now allowed to gamble in Vietnam's sole official casino in the northern port city of Haiphong…"

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