July 06, 2017 | 22:50 (GMT+7)
Hong Kong investor proposes racecourse in Can Tho
Hong Kong-based SIBC International Ltd. has proposed to the Can Tho authority a project to build a racecourse and an entertainment and tourism complex in the southern city.
On July 5, the group and other consultants worked with the city’s People Committee to introduce the project. Accordingly, the wholly foreign invested project will cover an area of 150ha in Binh Thuy district with total investment of USD 500 million.
A Hong Kong investor has proposed a racecourse project in Can Tho City.
The racecourse will be open every Friday to Sunday from 8am to 10pm. Those who want to bet must be over 21 years old. They can bet from VND 10,000 (USD 0.45) to VND 1 million (USD 45).
The investor’s representative said the project is estimated to create jobs for 20,000 locals, generate revenue of VND 50 trillion per year and contribute some VND 10 trillion to the State budget.
Vo Thanh Thong, Chairman of the city’s People’s Committee, said this is a large project, thus it requires permission from the Government. He added that the investor must ensure environment, traffic and resettlement issues are addressed during the project’s construction.
Thong asked the investor to study the feasibility of the project within three months to report to the committee on October 4 at the latest. If the project was feasible, the city authority would instruct the investor to complete necessary procedures.
Source: VNA