Vietnam is witnessing a rise in foreign investment of horse racing courses all across the country. According to the website of People's Committee of Vietnam's northern Bac Ninh province, a South Korean enterprise had visited the province to find investment opportunities of a horse racing course and amusement complex.
The project is expected to bring a total investment capital of 500 million U.S. dollars for the first phase and generate 5,000-10, 000 jobs. In a related move, another foreign investor is committed to developing a horse racing course in the northern Vinh Phuc province, reported Bao Dau Tu (Vietnam Investment Review) online newspaper on Tuesday.
Moreover, the investor wants to raise the scale of the project to 1.5 billion U.S. dollars from the initially plan of 570 million U.S. dollars. In addition to the horse racing course, the project is going to include a 72-hole golf course, a sports and entertainment area, a horse riding and polo club, residences, and villas covering an area of 750 hectares.
The horse racing course will take up 200 hectares and will feature three races a week. Besides, some 70 outside betting points will be built in 54 cities and provinces nationwide, as well as an online betting system and horse rearing and training areas, said the investor.
On Aug. 9, Vietnam's capital Hanoitourist Corporation (Hanoitourist) and a foreign investor signed an agreement on developing a five-star complex of hotels, a trade center, and a race course in the capital city. Covering an area of 235 hectares in suburban Hanoi, the complex has a total investment of some 500 million U.S. dollars.
Once completed, the complex is expected to become a tourist attraction for both domestic and foreign visitors to the capital, said Bao Dau Tu. In June, an Australian company received investment license for a 100-million-U.S. dollar race course in Vietnam's central Phu Yen province.
Latest comments