1. Casino business: Commercial banks allowed to provide services
Vietnamese citizens are also permitted to enter domestic casinos on a three year trial basis. They must be 21 years old or above with full capacity for civil acts of individuals according to Vietnamese law, have proof of regular monthly income of VND10 million ($450) or be subject to third degree taxation according to the law on individual income tax. Furthermore, Vietnam hopes to further integrate regionally and internationally, attract billions of dollars of foreign investment to sustain growth and make tourism a key sector to further development..
After releasing a special forecast in which the economic growth target of 6.7% for 2017 is said to be “achievable with drastic efforts,” The Ministry of Planning and Investment (MPI) has officially submitted to the government three scenarios for economic growth in the coming year. Accordingly, in the low growth scenario, GDP is expected to grow by 6.4%, while in the medium growth scenario, the projected growth rate is 6.5%, and in the high growth scenario, it is predicted to hit 6.81%.
Vietnam wants to design and make cars for its 90 million motorbike and scooter riders. The country’s largest real-estate company Vingroup said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months. The developer will break ground on the $1 billion to $1.5 billion first phase of the plant, with a plan to make sedans, sport utility vehicles and electric cars in the future.
4. Ho Chi Minh City’s economy on steady growth track
Ho Chi Minh City’s economy continued its steady growth in the first eight months this year, said the municipal authorities during a working session reviewing the city’s performance in the period on September 5. Four key industries, namely mechanical engineering, electronics, chemicals and food processing, continued expanding their markets. Investment in advanced equipment to improve quality and competitiveness surged 11.8 percent year-on-year.