Nguyen Thi Bich Ngoc, Chairwoman of Hanoi People’s Council said that horse racing track project has been submitted to Prime Minister Nguyen Xuan Phuc for approval. However, she said the project needs careful consideration since this is a new type of work in Vietnam.
The official expressed her belief that with considerable experience and robust business achievements in Vietnam, the Charmvit Group will successfully implement the project. Lee Dae-bong, Chairman of Charmvit Group said he expected to receive support from the municipal administration for the early implementation of the project, adding that the group has prepared necessary procedures.
PM Phuc last year approved the addition of the multi-purpose entertainment complex - horse racecourse project into Hanoi’s master plan on socio-economic development by 2020, with a vision towards 2030.Pursuant to Decision 1823/QD-TTg, the city government will raise the mobilization of social investment sources for building sports facilities in combination with high-quality tourism and service activities.
Hanoi will study the application of high technology in developing sports, culture and entertainment sectors.
As planned, the $420-million project will be built on an area of more than 100 hectares in Soc Son district’s Tan Minh commune. The project will also include a park, centers of tourism and entertainment and many other facilities.
The horse racing course is expected to create jobs for about 1,000 direct laborers and tens of thousands of indirect ones, contributing up to VND1.5 trillion ($64 million) each year to the local budget.