In a significant move, the Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and The Investor have come together to organize a crucial workshop. This workshop focuses on providing suggestions to amend the government’s Decree 06, which pertains to horse racing, greyhound racing, and international football betting services. Vietnam finds itself at a juncture where the development of legal frameworks in these domains is of utmost importance.

Unlock the Potential of Betting Services with VAFIE's Workshop

Importance of the Workshop

Betting business is a global phenomenon with a substantial revenue stream. In Vietnam, despite its potential, the implementation of Decree 06/2017/ND-CP has faced numerous challenges and obstacles, hindering the formation and growth of this industry. The National Assembly's Resolution No. 1035, issued in April 2024, has set a clear deadline for amending Decree 06 and completing the legal frameworks for lottery, betting, casino, and prize gaming services. This workshop serves as a vital platform to address these issues and pave the way for the development of these services. 2: The workshop holds great significance as it brings together key stakeholders such as National Assembly members, ministry representatives, experts, and business association leaders. International and domestic businesses will also participate, providing diverse perspectives and insights. This collaborative effort is expected to lead to the formulation of comprehensive and effective legal policies that can support the growth of horse racing, greyhound racing, and international football betting services in Vietnam.

Details of the Workshop

The workshop is scheduled to take place from 1:30 p.m. to 5:30 p.m. on Thursday, November 28, 2024, at the Ministry of Planning and Investment building located at 65 Van Mieu street, Dong Da district, Hanoi. This prime location ensures easy accessibility for all participants. The event is expected to be a platform for in-depth discussions and exchanges of ideas, with the aim of formulating practical recommendations for amending Decree 06. 2: The presence of various stakeholders at the workshop will create a dynamic environment for the exploration of different aspects related to betting services. National Assembly members can provide valuable insights based on their legislative expertise, while ministry representatives can offer a comprehensive understanding of the regulatory framework. Experts will contribute their knowledge and analysis, and business leaders will share their practical experiences and perspectives. This diverse mix of participants will lead to a well-rounded discussion and the formulation of innovative solutions.

Impact on Vietnam's Betting Industry

The successful amendment of Decree 06 and the development of legal frameworks for betting services will have a profound impact on Vietnam's economy. It will open up new avenues for investment and business growth, creating employment opportunities and contributing to the overall development of the country. Additionally, it will bring Vietnam in line with global trends and standards in the betting industry, enhancing its competitiveness on the international stage. 2: By addressing the existing difficulties and obstacles, Vietnam can position itself as a favorable destination for betting-related businesses. This will not only attract domestic and international investments but also stimulate the growth of related industries such as tourism and entertainment. The development of a regulated betting industry can also contribute to the diversification of the country's economic sectors and reduce its reliance on traditional industries.