Plans to expand gambling in Vietnam could face further delays following the re-election of General Secretary Nguyen Phu Trong, according to an industry analyst group.
Vietnam’s new boss ‘a negative for gaming expansion’: analystTrong was re-elected for a second five-year term by the ruling Communist Party early this week, BBC reported. The 71-year-old conservative, who is effectively the most powerful man in Vietnam, was the only candidate after reformist Prime Minister Nguyen Tan Dung withdrew from the race.
Union Gaming Securities Asia analyst Grant Govertsen said there have been high hopes among gaming proponents that Dung would get the top government position, and eventually become a catalyst for getting Vietnam’s gaming legislation across the finish line.
“As we’ve spoken to those pushing for gaming expansion in Vietnam, we got the sense that there was hope that the reform-minded/pro-business Prime Minister Dung would get the general secretary chair as this would hasten the liberalization of IR-style gaming in Vietnam, along with the ability to allow locals to gamble,” Govertsen said in a note.
Those hopes, however, were dashed to the ground since “the incumbent prime minister now appears to be on his way out of politics,” the analyst said. Several media outlets reported that Dung’s exit was aided by a brief power struggle with Trong. The National is expected to appoint a new prime minister later this year.