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The ministry asked the government Thursday to consider removing a regulation that requires operators of a bookmaking business to have a minimum capital of VND1 trillion ($43.2 million) to invest in betting on horse races and VND300 billion ($12.95 million) for betting on dog races.
It also proposed the removal of other rules regarding the precision and upgradability of technical equipment in a racecourse.
The suggested removals are part of the ministry’s plan to reduce over 51 percent of business conditions it manages.
Vietnam last year approved a bill legalizing sports betting, and in June, the government promulgated a decree regulating the sports-betting business.
Opening this door of opportunity has drawn special interest from foreign investors coming into the country to build racehorses.
