Horse racing course to be built
VGP – The PM has signed Decision No. 1823/QD-TTg approving the addition of the multi-purpose entertainment complex – horse racing course project into Hanoi’s master plan on socio-economic development by 2020, with orientation to 2030.
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According, the capital city of Ha Noi will increase the mobilization of social investment sources for building sports facilities in combination with high-quality tourism and service activities.
Ha Noi will study the application of high technology in developing the sports, culture and entertainment sectors.
The multi-purpose entertainment complex – horse racing course project has a total investment of about $420 million and is expected to be located on an area of over 100ha in Tan Minh commune, Soc Son district.
The project is expected to create jobs for about 1,000 direct laborers and tens of thousands of indirect ones and contribute up to VND1.5 trillion (US$64 million) to the local budget each year.
In August 2016, they inked a joint venture contract to invest in the project, which is set to meet five-star standards.
Last year, the Hanoi tourist Corporation and the Republic of Korea’s Global Consultant Network proposed the project again.
In 1999, the project was first put on the table. It was initially planned to be built in Dai Kim ward of Hoang Mai district and Thanh Liet commune of Thanh Tri district.
However, as the legal framework for sports betting and horse racing hadn’t been completed at the time, the foreign partner withdrew from this project in 2005.
By Vien Nhu
