The Vietnamese Government has approved a plan to establish a digital lottery company, the first of its kind in the country.
The company is a state-owned entity with a chartered capital of VND500 billion (US$24.3 million). The government will provide VND300 billion and the company will contribute VND200 billion from its Development Investment Fund and other resources.
The new company will invest in technical infrastructure from its profits and loan capital, according to the plan.
The company will have a chairman, managing director and controllers. Its headquarters will be located in Hanoi and it will have branches in central provinces.
The Prime Minister stated that the company must conduct all its activities cautiously, follow regulations set for the lottery business and ensure transparency and social development.