The project was initiated in 1999 and approved by the Prime Minister and licenced by the Ministry of Planning and Investment the same year.
However, for various reasons it was delayed until recently. The Hanoi People’s Committee has decided to implement the project on 1,200ha in the outlying district of Soc Son and the Global Consultant Network was chosen as its partner.
The Ministry of Finance has nearly completed a draft decree on football and horse and dog racing betting to submit for Government approval, which creates a legal framework for the entertainment activity.
A representative from Hanoi Tourist said after the signing ceremony, the joint venture will ask the Hanoi People’s Committee for guidelines to carry out the project.
A horse racing track has been built recently in Binh Duong province by Dai Nam JSC on an area of 60-70ha.