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
Workforce shortages accelerate global demand for integrated facility management

Workforce shortages accelerate global demand for integrated facility management

Labor shortages and rising expectations for operational performance are prompting many businesses to reassess traditional management models, write Savills Vietnam analysts.

Consulting - Tue, December 23, 2025 | 3:00 pm GMT+7

Property broker Cen Land shares stabilize after ‘Shark Hung’ responds to online rumors

Property broker Cen Land shares stabilize after ‘Shark Hung’ responds to online rumors

Shares of Cen Land (HoSE: CRE), a major Vietnamese real estate brokerage, stabilized on Tuesday morning after vice chairman Pham Thanh Hung, widely known as “Shark Hung”, spoke out to deny online rumors following a sharp sell-off in the stock on Monday.

Companies - Tue, December 23, 2025 | 11:59 am GMT+7

Party Central Committee’s 15th plenum wraps up

Party Central Committee’s 15th plenum wraps up

The 15th plenum of the 13th Party Central Committee concluded on Tuesday morning after two days of intensive working, completing all agenda items with a high degree of consensus and quality.

Politics - Tue, December 23, 2025 | 11:50 am GMT+7

Steel giant Hoa Sen sets up subsidiary in northern Vietnam

Steel giant Hoa Sen sets up subsidiary in northern Vietnam

Hoa Sen Group (HoSE: HSG), one of Vietnam’s largest steel producers, has disclosed a board resolution approving the establishment of Hoa Sen Hai Phong One Member Limited Liabilities Company (HSHP), a wholly-owned subsidiary with charter capital of VND300 billion ($11.39 million).

Companies - Tue, December 23, 2025 | 11:31 am GMT+7

UOB's latest USD/VND projections for 2026 are 26,300 in Q1, 26,100 in Q2

UOB's latest USD/VND projections for 2026 are 26,300 in Q1, 26,100 in Q2

Analysts at Singaporean bank UOB say they maintain a cautious stance on the Vietnamese dong (VND) and their updated USD/VND forecasts for next year are at 26,300 in Q1, 26,100 in Q2, 26,000 in Q3, and 25,900 in Q4.

Banking - Tue, December 23, 2025 | 10:07 am GMT+7

Vietnam's major food maker Kido delays 2024 dividend payout due to economic headwinds

Vietnam's major food maker Kido delays 2024 dividend payout due to economic headwinds

Kido Group has postponed its planned cash dividend payment for 2024, citing persistent economic difficulties and the need to preserve cash flow for operations in late 2025 and early 2026.

Companies - Tue, December 23, 2025 | 8:00 am GMT+7

Petrovietnam chairman Le Manh Hung appointed acting Industry and Trade Minister

Petrovietnam chairman Le Manh Hung appointed acting Industry and Trade Minister

Prime Minister Pham Minh Chinh has appointed Le Manh Hung, chairman of the council of members at state-owned Petrovietnam (PVN), as acting Minister of Industry and Trade.

Politics - Mon, December 22, 2025 | 9:55 pm GMT+7

Vietnam's top non-life insurer PVI surpasses $1 bln in revenue

Vietnam's top non-life insurer PVI surpasses $1 bln in revenue

PVI Insurance, a leading non-life insurer in Vietnam, has surpassed $1 billion in revenue, becoming the first non-life insurance company in the country to reach this revenue scale.

Companies - Mon, December 22, 2025 | 7:30 pm GMT+7

JC&C completes sale of 4.6% Vinamilk stake to F&N for $228 mln

JC&C completes sale of 4.6% Vinamilk stake to F&N for $228 mln

Singapore-listed Jardine Cycle & Carriage Limited (JC&C) has reportedly completed the sale of more than 96 million shares, equivalent to a 4.6% stake, in Vietnam’s dairy giant Vinamilk (HoSE: VNM).

Companies - Mon, December 22, 2025 | 6:50 pm GMT+7

Shares linked to ‘Shark Hung’ slide despite market rallies

Shares linked to ‘Shark Hung’ slide despite market rallies

Shares of Cen Land (HoSE: CRE), a major Vietnamese real estate brokerage linked to businessman Pham Thanh Hung, fell sharply on Monday, bucking a broad market rally that lifted the benchmark VN-Index to a fresh high.

Companies - Mon, December 22, 2025 | 4:17 pm GMT+7

Intel urged to expand chip packaging, testing operations in Vietnam

Intel urged to expand chip packaging, testing operations in Vietnam

Vietnam has urged Intel to step up investment in semiconductor packaging and testing operations in the country, as Hanoi accelerates efforts to build a domestic chip ecosystem aligned with global supply chains.

Investing - Mon, December 22, 2025 | 3:37 pm GMT+7

Korean energy giant LS intends to inject $19.3 mln into Vietnam rare earth business

Korean energy giant LS intends to inject $19.3 mln into Vietnam rare earth business

LS Eco Energy, a subsidiary of South Korea’s cable and energy giant LS Cable & System, has decided to invest KRW28.5 billion ($19.26 million) in advancing its rare earth metals business in Vietnam.

Industries - Mon, December 22, 2025 | 3:11 pm GMT+7

Vietnam's Petrosetco estimates 2025 net profit rises 46% to over $12 mln

Vietnam's Petrosetco estimates 2025 net profit rises 46% to over $12 mln

PetroVietnam General Services Corporation (Petrosetco) expects its net profit to reach VD322 billion ($12.23 million) in 2025, up 46% year-on-year and exceeding the company's full-year target by 32%.

Companies - Mon, December 22, 2025 | 11:50 am GMT+7

Vietnam's 13th Party Central Committee convenes 15th meeting

Vietnam's 13th Party Central Committee convenes 15th meeting

The 15th meeting of Vietnam's 13th Party Central Committee opened in Hanoi on Monday.

Politics - Mon, December 22, 2025 | 11:13 am GMT+7

Duc Giang Chemical chairman’s family loses $129 mln in a week as shares plunge

Duc Giang Chemical chairman’s family loses $129 mln in a week as shares plunge

Shares of Vietnam’s Duc Giang Chemical Group JSC (DGC) fell sharply last week (December 15-19), wiping nearly VND3.4 trillion ($129.2 million) off the stock-based wealth of the family of chairman Dao Huu Huyen.

Companies - Mon, December 22, 2025 | 6:58 am GMT+7

Vietnam launches International Financial Center, pledges 'special process' to resolve investor hurdles

Vietnam launches International Financial Center, pledges 'special process' to resolve investor hurdles

Vietnam on Sunday announced the establishment of its International Financial Center (IFC), with Prime Minister Pham Minh Chinh pledging to fast-track the resolution of investor difficulties through a “special process”.

Economy - Sun, December 21, 2025 | 9:18 pm GMT+7