In Vietnam’s Las Vegas, Foreign Passports Required

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June 12 – Vietnam will soon have its very first casino at the Ho Tram Strip resort in southern Vietnam. To be constructed at a cost of US$4.2 billion, the casino which will only be accessible to foreigners, is one of the largest investments in Vietnam’s tourism infrastructure. The builders, Canadian-based Asian Coast Development, say that the casino will be part of a resort which will have two five star hotels.

Vietnam has become the most popular destination for the hospitality industry in south east Asia, as it offers the same climate and low cost conditions as neighboring Thailand or Indonesia, but is not yet saturated. This has spurred an impressive volume of infrastructure development and construction activities to cater to the country’s newfound source of income.

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The attractiveness of Vietnam as a tourist destination has prompted the government to invest in the country’s basic infrastructure and has helped boost the construction sector. Tourism is also perhaps the main sector where foreign involvement is welcome in Vietnam. The Vietnamese construction industry contributes around 9 percent to GDP, and BMI forecasts that it will grow at an average rate of 8.1 percent per year between 2008 and 2012.