Hanoi considers building $500 mln horse racing, golf course complex

By Dam Tuan   August 13, 2016 | 06:37 am GMT+7

Off to the races: Would you fancy a flutter at the first five-star racetrack in the country?

Hanoi is considering a project to build a racetrack, golf course and entertainment complex worth $500 million where horse racing lovers will allowed to bet, legally.

Hanoi Tourist Corporation and Korea’s Global Consultant Network., LTD. have recently signed an investment agreement for the racecourse and they are awaiting the green light from authorities, according to the Hanoi People's Committee newspaper.

The five-star complex will include a shopping mall, entertainment services, a racetrack and a golf course. 

hanoi-considers-building-500-mln-horse-racing-golf-course-complex

Hanoi may have a five-star racetrack and golf course complex. Photo by Paul Kehrer, Creative Commons 2.0

Hanoi Tourist Corporation and Global Consultant Network Co. Ltd submitted the proposal to the city's People's in 2007, but it has been delayed due to complications over legal betting.

Vietnam's Government Office released Prime Minister Phuc’s response to the project: “The joint venture to build a racecourse in the city will be considered by the government after we look at legal regulations regarding gambling.”

City leaders say it will increase revenue and attract more tourists to the capital.

Gambling is a sensitive businesses in Vietnam that needs thorough consideration, even though foreign investors have shown an interest in the project. In the past, Hanoi planned to license a racecourse in Soc Son District but failed to get approval from the Prime Minster due legal issues.

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