The project is on the list of priority projects calling for non-state investment of the northern province of Thai Nguyen.
The northern province of Thai Nguyen will build a US$350-million horse racecourse around Van Mountain - Vo Mountain relic in Dai Tu District.
The project is part of Thai Nguyen's master plan for 2021-2030, with a vision to 2050, which has recently been approved by Deputy Minister Tran Hong Ha.
Thai Nguyen will build a complex of commercial services, tourism, and a horse racecourse. Photo: Dai Nam JSC |
The complex will be built on 100 hectares in two communes of Ky Phu and Van Yen, Dai Tu District. It is on the list of priority projects calling for non-state investment.
Last March, the People’s Committee of Van Yen Commune announced the planning to preserve and restore the relics of Van Mountain - Vo Mountain.
According to the planning, new construction works will develop many tourism products such as studying history, exploring natural landscapes, climbing mountains, visiting caves, and racing horse.
By 2025, Thai Nguyen will become a modern-oriented and smart industrial and economic hub in the northern region and Hanoi Capital Region.
Earlier, Hanoi approved a $420 million racetrack complex in Tan Minh Commune, Soc Son District, covering an area of more than 100 hectares. The project, invested by South Korea-based Charmvit, is part of the capital's socio-economic development master plan for 2020, with a vision for 2030.
City authorities have been helping the South Korean investor resolve legal issues over the past few years, with the expectation that the project will be implemented soon.
Once the racetrack complex is operational, Hanoi expects to collect $40-$50 million in corporate income tax and $100-$200 million in special consumption tax annually.
Apart from the two projects, the Dai Nam International Standard racecourse in the southern province of Binh Duong, the first of its kind in Vietnam, opened in 2017.
Other News
- Four- and five-star hotels to boom in Hanoi as tourism rebounds
- Vietnam’s manufacturing sector returns to growth in April
- Vietnam on track for Q2 export breakthrough, economist predicts
- Unlocking the tourism potential of Hanoi's suburbs
- Vietnam's tourism sees 58.2% increase in int’l visitors
- Expectations for Vietnam’s real estate market to flourish
- Training: key to enhancing competitiveness of Vietnam's tourism workforce
- Cooperation and investment: key to effective tourism promotion in Vietnam
- IT training urged to focus on semiconductors
- Hanoi Great Souvenir Fair 2024 to take place next week
Trending
-
Tran Thanh Man assigned to drive National Assembly activities
-
Vietnam news in brief - May 2
-
Four- and five-star hotels to boom in Hanoi as tourism rebounds
-
Trivial jobs: Hanoians strive to keep their old trades alive
-
Hanoi strives to ensure smooth high school exams
-
Carnaval Ha Long 2024 woos tourists with fireworks and drone light shows
-
Affordable, quality tours offered at Hanoi Tourism Festival 2024
-
Introduction of community tourism area in Hanoi herb kingdom
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub