Vietnam lottery is ready to experience the upcoming project operated by a company with wide range of business interests. Malaysia’s Berjaya Corp intends to invest over $200 million to Vietnam’s lottery industry during the period of the next 18 years.
According to the World Bank’s predictions, Vietnam’s economy is expected to grow by 6% per year until 2018, which accelerates to start the new lottery project. The predicted financial prosperity provides stable income to the middle class. As a result of the steady economic growth, the demand for obtaining luxury things, gambling and being involved in lottery gaming appears in the communist nation, from which Vietnam lottery can benefit from. More than five years before, the Berjaya Corp offered a lottery project to the government however, it took six years to Vietnam to award Berjaya and the Vietnam Computerized Lottery One Member Limited Liability Company (Vietlott) a contract to supply and complete a nationwide computerized lottery.
The investment registration certificate was announced yesterday by the Hanoi Department of Planning and Investment.
The project will be performed by the subsidiary of BCorp – Berjaya GTI – which is a Vietnamese company 51% owned by Berjaya Lottery Vietnam Ltd (BLV). BLV is an 80% subsidiary of BCorp while the remaining 20% is held by Berjaya Sports Toto Bhd (BToto).
The certificate involves the acquisition and operation of the technical system including everything, from suitable equipment to technology, through software to computerized lottery in Vietnam.
During the 18-year-long contraction period Berjara Group and Vielott decided that they would not invest or participate in any other project related with computerized lottery business in Vietnam.
The first game to be launched is expected to be a lotto jackpot game and then a digit game will come to make Vietnam lottery more lively and appealing.