Hanoi (VNA) – Hanoi will spend more than 420million USD to build a horse racingcourse in Soc Son district, Chairman of the municipal People’s Committee NguyenDuc Chung said on December 11.
He released the information at a meeting withcitizens in Hoan Kiem district following the 7th session of the 15th HanoiPeople’s Council.
At this event, voters asked authorities toconsider zoning land unsuitable for agricultural production and far away frompopulous areas for developing new services to help improve local livingstandards.
Chung said the course has been part of thecity’s planning for a multifunctional complex including a park, tourism andentertainment 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 andThanh Liet commune of Thanh Tri district. However, as the legal framework forsports betting and horse racing hadn’t been completed at the time, the foreignpartner withdrew from this project in 2005.
In 2007, the Hanoitourist Corporation and theRepublic of Korea’s Global Consultant Network proposed the project again.
In August 2016, they inked a joint venture contractto invest in the project, which is set to meet five-star standards.
The project is expected to create jobs for about1,000 direct labourers and tens of thousands of indirect ones and contribute upto 1.5 trillion VND (64 million USD) to the local budget each year.
The Vietnamese Government issued a decree ondoing business in the horse and dog racing betting and piloting theinternational football betting in 2017. Earlier this year, the NationalAssembly approved a law amending and supplementing some articles of the Law onPhysical Training and Sports that includes an article on sports betting. Withthis move, the legal framework for sports betting has been upgraded from thedecree level to the law level. –VNA
He released the information at a meeting withcitizens in Hoan Kiem district following the 7th session of the 15th HanoiPeople’s Council.
At this event, voters asked authorities toconsider zoning land unsuitable for agricultural production and far away frompopulous areas for developing new services to help improve local livingstandards.
Chung said the course has been part of thecity’s planning for a multifunctional complex including a park, tourism andentertainment 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 andThanh Liet commune of Thanh Tri district. However, as the legal framework forsports betting and horse racing hadn’t been completed at the time, the foreignpartner withdrew from this project in 2005.
In 2007, the Hanoitourist Corporation and theRepublic of Korea’s Global Consultant Network proposed the project again.
In August 2016, they inked a joint venture contractto invest in the project, which is set to meet five-star standards.
The project is expected to create jobs for about1,000 direct labourers and tens of thousands of indirect ones and contribute upto 1.5 trillion VND (64 million USD) to the local budget each year.
The Vietnamese Government issued a decree ondoing business in the horse and dog racing betting and piloting theinternational football betting in 2017. Earlier this year, the NationalAssembly approved a law amending and supplementing some articles of the Law onPhysical Training and Sports that includes an article on sports betting. Withthis move, the legal framework for sports betting has been upgraded from thedecree level to the law level. –VNA
VNA
