Hanoi (VNA) – Hanoi will spend more than 420 million USD to build a horse racing course in Soc Son district, Chairman of the municipal People’s Committee Nguyen Duc Chung said on December 11.
He released the information at a meeting with citizens in Hoan Kiem district following the 7th session of the 15th Hanoi People’s Council.
At this event, voters asked authorities to consider zoning land unsuitable for agricultural production and far away from populous areas for developing new services to help improve local living standards.
Chung said the course has been part of the city’s planning for a multifunctional complex including a park, tourism and entertainment centres and many other facilities.
The project was first put on the table in 1999. 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.
In 2007, the Hanoitourist Corporation and the Republic of Korea’s Global Consultant Network proposed the project again.
In August 2016, they inked a joint venture contract to invest in the project, which is set to meet five-star standards.
The project is expected to create jobs for about 1,000 direct labourers and tens of thousands of indirect ones and contribute up to 1.5 trillion VND (64 million USD) to the local budget each year.
The Vietnamese Government issued a decree on doing business in the horse and dog racing betting and piloting the international football betting in 2017. Earlier this year, the National Assembly approved a law amending and supplementing some articles of the Law on Physical Training and Sports that includes an article on sports betting. With this move, the legal framework for sports betting has been upgraded from the decree level to the law level. –VNA
He released the information at a meeting with citizens in Hoan Kiem district following the 7th session of the 15th Hanoi People’s Council.
At this event, voters asked authorities to consider zoning land unsuitable for agricultural production and far away from populous areas for developing new services to help improve local living standards.
Chung said the course has been part of the city’s planning for a multifunctional complex including a park, tourism and entertainment centres and many other facilities.
The project was first put on the table in 1999. 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.
In 2007, the Hanoitourist Corporation and the Republic of Korea’s Global Consultant Network proposed the project again.
In August 2016, they inked a joint venture contract to invest in the project, which is set to meet five-star standards.
The project is expected to create jobs for about 1,000 direct labourers and tens of thousands of indirect ones and contribute up to 1.5 trillion VND (64 million USD) to the local budget each year.
The Vietnamese Government issued a decree on doing business in the horse and dog racing betting and piloting the international football betting in 2017. Earlier this year, the National Assembly approved a law amending and supplementing some articles of the Law on Physical Training and Sports that includes an article on sports betting. With this move, the legal framework for sports betting has been upgraded from the decree level to the law level. –VNA
VNA
