BAC NINH - Delays on passage of a new sports betting decree in Vietnam has not stopped a Korean corporation from proceeding with plans to build a racetrack in the northern province of Bac Ninh.
Choi Hank Soo, president of the corporation, recently unveiled preliminary drawings for the quarter horse racing track in the Thuan Thanh District along with ancillary plans for an adjoining entertainment complex.
The complex will span more than 20 hectares of land and consist of a straightaway horse track, grand stand seating, an entertainment facility, at least two 50-stall horse barns, 1,500 parking spaces with commercial lots set aside for business and hotel development.
We’ve been working on this for several years and it’s finally come to fruition, said Mr Soo. We’re hoping on receiving a lot of support from local officials to make it all come together.
To do a project of this magnitude it takes two things, said Nguyen Tu Quynh, chair of Bac Ninh Provincial People’s Committee. A progressive, forward thinking community and a great partner, and I think that’s what the province has here.
The racetrack, if approved and constructed, is anticipated to bring around 5,000 jobs and millions in annual tax revenue to the province, with most of these those jobs being permanent positions.
However, the preliminary development plan still has to be approved by the Prime Minister before any construction work could begin. As well, funding for the US$500 projected would still need to be secured.VOV