Vietnam’s southern province to have horse racetrack at $100mn recreation complex
Vietnam’s southern province to have horse racetrack at $100mn recreation complex
The administration of Vietnam’s southern province of Binh Phuoc has given in-principle agreement to an Australian company to build a horse racetrack at an entertainment hub it has been allowed to develop in the province, an investment official has said.
The southern province has given approval for Binh Phuoc Recreation Pty Ltd to add a horse racetrack to the list of facilities to be built within the Binh Phuoc Recreation Complex project, according to Vu Thanh Nam, director of the provincial Department of Planning and Investment.
The US$100 million recreation project is planned to span 100 hectares in the heart of Chon Thanh District, some 86km north of Ho Chi Minh City, Nam said.
The complex will consist of a horse racetrack, a resort villa, a trade-service-sporting center, and a healthcare unit, the official added.
The project’s developer is set to collect feedback from relevant agencies and departments before applying for an investment license from the provincial administration.
The horse racetrack received a go-ahead from Binh Phuoc after a meeting between the province’s chairman, Nguyen Van Tram, and Michael Efron, director of the Binh Phuoc Recreation Pty Ltd, in the southern province last week.
The horse racetrack will be the focus of the Binh Phuoc Recreation Complex, the chairman was quoted by Binh Phuoc newspaper as saying.
Tram said a horse racetrack is a new field of investment in Vietnam, in general, and Binh Phuoc in particular, according to the newspaper.
“The Binh Phuoc Recreation Complex project will boost the province’s development in the future and we will create the most convenient possible conditions for the developer,” Nam, of the investment department, said.
During the meeting with the province’s chairman, Efron committed to completing the required legal procedures quickly, according to Nam.
“Efron also said all of the horses at the racetrack will be imported from Australia,” he added.
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