Vietnam confirms requirement of bidding process for international football betting
As previously announced, a bidding process will be used to select investors.
Vietnam.- A bidding process will be carried out to select investors for international football betting in Vietname. Decree 23/2024 states that the process will meet the stipulations of the Bidding Law. The decree also covers horse and dog racing. It echoes the regulations outlined in Decree 06, 2017.
The government had already authorised an international football betting pilot with a bidding process. No ventures have been approved to date, but a lottery business mentioned plans to incorporate international football betting within its development strategy.
In late 2021, the Ministry of Finance proposed revisions to Decree 06 to include betting on European national football championships and the purchase of betting tickets online. It also introduced the conditions of a minimum capital investment of VN$1tn, a 50 per cent cap on foreign ownership, and a commitment to contribute a minimum of 5 per cent of betting revenue, excluding taxes, to the state budget. However, the issuance of the new decree remains pending, posing challenges for regulatory authorities.
