Hanoi collects public feedback on $409 mln horse racecourse project

By Quang Tuyen, Minh Hue
Thu, January 11, 2024 | 3:43 pm GMT+7

Hanoi’s Soc Son district is collecting public feedback on a VND9,577 billion ($408.66 million) 125-hectare horse racecourse it plans to build in Tan Minh and Phu Linh communes.

All agencies, organizations, individuals and communities can submit their opinions by February 4 on a detailed 1/500 scale plan for the multi-purpose entertainment complex that has been made public.

The area set for the horse racecourse in Tan Minh and Phu Linh communes, Soc Son distrct, Hanoi. Photo courtesy of Kinh te & Do thi (Economy and Urban Area) newspaper.

The area set for the horse racecourse in Tan Minh and Phu Linh communes, Soc Son distrct, Hanoi. Photo courtesy of Kinh te & Do thi (Economy and Urban Area) newspaper.

Comments are invited on the reasons, necessity and goals of the plan; its impact on relevant communities and areas; land use planning; architecture, urban design; and traffic connection between the racecourse and surrounding areas.

Based on the comments, the People's Committee of Soc Son district and H&G Company Limited, which has prepared the plan, will supplement or adjust the project in order to make it consistent “with local reality” and general development requirements of the region and the city.

The 50-year racecourse project will include a 99.5-hectare stadium housing 30,000 spectators; a 22.5-hectare lake; a 3-star hotel on 1.5 hectares; a 0.5-hectare conference hall and a 1-hectare resort villa area.

The multi-purpose entertainment complex is expected to employ about 5,000 direct workers and 20,000 to 25,000 indirect workers.

The racecourse was originally set to begin operations in 2021, but got mired in difficulties that authorities have not elaborated on.

In mid-2022, Hanoi sought the Prime Minister’s intervention in removing site clearance difficulties for the project.

Comments (0)
  • Read More
'Tunnel king' Deo Ca plans to invest over $3.7 billion in building roads

'Tunnel king' Deo Ca plans to invest over $3.7 billion in building roads

“Tunnel king” Deo Ca Group plans to build about 400km of highways and ring roads with a total investment of more than VND94,000 billion ($3.7 billion) by 2030.

Companies - Sat, April 27, 2024 | 5:17 pm GMT+7

Real estate major DIC plans high-end medical centers for Vietnam expats

Real estate major DIC plans high-end medical centers for Vietnam expats

Real estate major DIC Corp has plans to build facilities offering advanced medical care for long-term expat residents in the central province of Thanh Hoa and the southern province of Ba Ria-Vung Tau.

Companies - Sat, April 27, 2024 | 4:40 pm GMT+7

Vietnam-based Boviet Solar to invest $294 mln in photovoltaics plant in US

Vietnam-based Boviet Solar to invest $294 mln in photovoltaics plant in US

Vietnam-based Boviet Solar Technology Co. Ltd. (Boviet Solar) will invest $294 million in a photovoltaics (PV) factory in Pitt County, North Carolina, the United States.

Energy - Sat, April 27, 2024 | 12:28 pm GMT+7

FPT Retail turns profitable after four consecutive quarterly losses

FPT Retail turns profitable after four consecutive quarterly losses

FPT Digital Retail JSC, known as FPT Retail, posted VND39 billion ($1.54 million) in consolidated net profit in the first quarter of 2024, marking a return to profitability after four consecutive quarters of losses.

Companies - Sat, April 27, 2024 | 10:20 am GMT+7

Agriculture major PAN Group to pay 5% cash dividend

Agriculture major PAN Group to pay 5% cash dividend

Leaders of PAN Group JSC, listed on the HCMC Stock Exchange (HoSE) as PAN, proposed paying a cash dividend of 5% this year and beyond at the company's AGM on Friday.

Companies - Sat, April 27, 2024 | 9:53 am GMT+7

Japan’s Sojitz invests in Vietnam cashless payment firm Finviet

Japan’s Sojitz invests in Vietnam cashless payment firm Finviet

Japanese conglomerate Sojitz Corporation has invested an undisclosed amount in Finviet Technology Corporation, a software as a service (SaaS) company in Vietnam that provides cashless payment smartphone apps and an online ordering platform for small retail stores.

Companies - Sat, April 27, 2024 | 9:36 am GMT+7

Real estate businesses’ cash flow worst in five years: expert

Real estate businesses’ cash flow worst in five years: expert

Real estate developers are experiencing their worst cash flow in five years as the property market is facing several economic hurdles, said Dinh The Hien, head of the Institute of Information and Business Research.

Real Estate - Sat, April 27, 2024 | 7:46 am GMT+7

Former Binh Thuan province chairman detained for state asset management violations

Former Binh Thuan province chairman detained for state asset management violations

The Ministry of Public Security's investigative agency has launched legal proceedings against and arrested Le Tien Phuong, former chairman of Binh Thuan province for the 2011-2016 term.

Politics - Fri, April 26, 2024 | 9:41 pm GMT+7

Vietnam central bank to keep interest rate steady: deputy governor

Vietnam central bank to keep interest rate steady: deputy governor

The State Bank of Vietnam (SBV), the country’s central bank, will continue to keep policy interest rates unchanged at present and in the coming time, affirmed its deputy governor Dao Minh Tu.

Banking - Fri, April 26, 2024 | 9:11 pm GMT+7

Nam Kim Steel builds $178 mln factory in southern Vietnam

Nam Kim Steel builds $178 mln factory in southern Vietnam

Ho Minh Quang, chairman of Nam Kim Group, says work is proceeding space on the VND4.5 trillion ($177.55 million) Phu My steel roofing factory in Ba Ria-Vung Tau province and it should become operational in Q4/2025 or Q1/2026.

Companies - Fri, April 26, 2024 | 5:57 pm GMT+7

Vietnam parliament chairman Vuong Dinh Hue to step down

Vietnam parliament chairman Vuong Dinh Hue to step down

The Party Central Committee has accepted the resignation of Vuong Dinh Hue, a member of the Poliburo - the country's highest decision-making body, and chairman of the National Assembly.

Politics - Fri, April 26, 2024 | 5:05 pm GMT+7

Nvidia keen on building AI center, relocating GPU production in Vietnam

Nvidia keen on building AI center, relocating GPU production in Vietnam

Nvidia is keen on working with Vietnamese authorities to establish a training-research-development center for artificial intelligence (AI), install super computers, and relocate part of its graphics processing unit (GPU) production to the country.

Industries - Fri, April 26, 2024 | 4:56 pm GMT+7

Japan energy firm Erex eyes 50 MW biomass power plant in northern Vietnam

Japan energy firm Erex eyes 50 MW biomass power plant in northern Vietnam

Japanese renewable energy firm Erex Co., Ltd. plans to build a 50-MW biomass power plant in the northern mountainous province of Lao Cai, Erex representative director and president Honna Hitoshi said Wednesday.

Energy - Fri, April 26, 2024 | 3:30 pm GMT+7

New stock trading system KRX unable to go-live on May 2: regulator

New stock trading system KRX unable to go-live on May 2: regulator

The State Securities Commission (SSC) has rejected the Ho Chi Minh Stock Exchange’s (HoSE) proposal to officially operate a new stock trading system called KRX on May 2, citing some securities firms as saying that there were errors during the testing process.

Finance - Fri, April 26, 2024 | 3:05 pm GMT+7

New expressway shortens Hanoi-Nghe An travel time to three hours by car

New expressway shortens Hanoi-Nghe An travel time to three hours by car

The Dien Chau-Bai Vot Expressway will be opened to traffic on Sunday, shortening the travel time between Hanoi and Vinh town, capital of Nghe An province, from five hours and a half by car to three hours.

Infrastructure - Fri, April 26, 2024 | 12:00 pm GMT+7

Dairy giant Vinamilk targets 5% pre-tax profit growth in 2024

Dairy giant Vinamilk targets 5% pre-tax profit growth in 2024

Vietnamese dairy giant Vinamilk aims to earn VND63.16 trillion ($2.5 billion) in revenue and VND11.5 trillion ($453.92 million) in pre-tax profit this year, up 4.4% and 5.1% year-on-year, respectively, CEO Mai Kieu Lien said on Thursday.

Companies - Fri, April 26, 2024 | 11:53 am GMT+7