All bets placed on Phu Quoc casino, illustration photo source AFP Key points of Vietnam’s casino legislation Casino operation - Casino operators must open registers or issue electronic cards to monitor visitors leaving and entering their premises. These registers or electronic cards must be kept for a minimum of two years for inspections by local authorities if required, or five years for operators which are permitted to allow Vietnamese citizens. - Dossiers for Vietnamese citizens to present their financial abilities to play in casinos according to Article 12 of Decree 03 need to contain one of the following documents: - Documents proving taxable incomes of Level 3 or higher as prescribed in the Law on Personal Income Tax: A certified copy of the personal income tax declaration already finalised or finalised by the tax office, or a confirmation of tax obligations by tax authorities proving that players have had taxable incomes of Level 3 or higher for one year … [Read more...] about All bets placed on Phu Quoc casino
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Thai groups have invested in many business fields in Vietnam, from goods production to retail. The takeover of Sabeco, the brewer, and Binh Minh Plastics are two of the recent biggest deals made by Thai investors. Sabeco brings big money to Thai billionaire A report released on September 30 showed that Thaibev is holding 53.58 percent of Sabeco’s shares. Sabeco became the major driving force for Thaibev’s growth in the fiscal year commencing in October 2018 and ending in September 2019. The Thai group reported sharp growth rates in revenue (16 percent) and profit (33 percent). Sabeco’s sales increased by 44 percent, making an important contribution to Thaibev’s business performance. If not counting Sabeco’s achievements, the international beer sales will decrease compared with the same period last year because of weakening activities in ASEAN. Binh Minh Plastics prospers Kim Chi Heineken sells 5.2 million Sabeco's stocks Heineken is … [Read more...] about How do enterprises perform after they are bought by Thai firms?
The act came as it seeks to temper a global backlash led by celebrities such as George Clooney and Elton John. The small Southeast Asian country sparked an outcry when it rolled out its interpretation of Islamic laws, or sharia, on April 3, punishing sodomy, adultery and rape with death, including by stoning. Brunei has consistently defended its right to implement the laws, elements of which were first adopted in 2014 and which have been rolled out in phases since then. However, in a rare response to criticism aimed at the oil-rich state, the sultan said the death penalty would not be imposed in the implementation of the Syariah Penal Code Order (SPCO). Some crimes already command the death penalty in Brunei, including premeditated murder and drug trafficking, but no executions have been carried out since 1957. "I am aware that there are many questions and misperceptions with regard to the implementation of the SPCO. However, we believe that once these have been cleared, the merit of … [Read more...] about Brunei says it won’t enforce gay death penalty after backlash
Pham Nhat Vu, former chairman of private pay TV firm Audio Visual Global JSC, at a police station in April 2019. Photo courtesy of the Ministry of Public Security. Police with the Ministry of Public Security said while Vu bribed officials to take favorable decisions in the acquisition by state-owned telecom giant MobiFone, he has proactively cooperated with authorities, done a lot of charitable work, and returned the money involved, minimizing losses to the state. Vu gave bribes of $3 million to the former Minister of Information and Communications Nguyen Bac Son; $2.5 million to MobiFone's former chairman Le Nam Tra; $500,000 to the telecom giant's former CEO Cao Duy Hai and $200,000 to another former information minister, Truong Minh Tuan, then serving as Son's deputy. Since the value of the bribes exceeding VND1 billion ($430,000), he would normally face 12-20 years in prison under Vietnam's Penal Code. Investigators however have recommended that the special clemency … [Read more...] about Lighter sentence recommended for main accused in $6 mln bribery case
Vietnam loses $800 million every year from local gamblers going to other countries, Photo: Le Toan The Ministry of Finance (MoF) is currently revising Decree No.03/2017/ND-CP governing the casino business in Vietnam to cut a number of investment conditions on segments such as casinos, lotteries, and betting. If approved, this revised decree will expectedly be a boon for investors implementing registered projects. Regarding lottery, electronic games for foreigners, and casinos alone, the MoF proposed to cut eight conditions and simplify two. Electronic gaming services for foreigners would have three fewer conditions, while casinos would be subject to one fewer condition, with an additional condition simplified. In addition, horse and dog racing would see two conditions removed and four simplified. Up until Decree 03 was issued in January 2017, after about a decade of waiting, only people with foreign passports were permitted to play in Vietnam’s casinos and … [Read more...] about Revised casino decree to further relax restrictions