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$100 million Binh Duong racecourse set to open

Released at: 11:45, 01/08/2016

$100 million Binh Duong racecourse set to open

Photo: Duc Anh

Dai Nam JSC to open horse racecourse in late October in southern province.

by Hong Nhung

The Dai Nam Joint Stock Company has wrapped up preparations for opening a horse racecourse at the Dai Nam Tourism Park in southern Binh Duong province.

A representative from Dai Nam’s Public Relations Department confirmed with VET on July 29 that “the Dai Nam racecourse will officially open in October.”

Construction began in July last year with total investment at around $100 million.

The racecourse will occupy an area of 60 ha at the tourism park, about 40 km from Ho Chi Minh City, with 30 ha for a parking lot and grandstand that can accommodate 50,000 to 60,000 people.

Apart from horse racing it will also host dog racing, car racing, motorbike racing, water motorsports and all-terrain vehicle racing. Dai Nam will also continue to invest other hospitality services as the project demands.

Mr. Huynh Uy Dung, Chairman of the Dai Nam JSC, was quoted as saying that “no gambling will be permitted at the racecourse.” He hopes it will attract about 5 million visitors a year to the tourism park, up from 2 million now. The racecourse will have about 300 staff and thousands of horse studs breeding and preparing horses.

The project is not the only one for a racecourse in Vietnam. In June, south-central Phu Yen province licensed the Australian Golden Turf Club Company to invest in a racecourse with investment of $100 million, to be built on an area of more than 134 ha. The track is expected to be completed in 2019.

The Australian company also received permission from the Binh Phuoc Provincial People’s Committee to expand a racecourse in the southern province. The project has a total area of 100 ha, including a service and commercial center and a healthcare and medical center for elderly citizens, with initial capital expected at over $100 million.

Meanwhile, the Lam Dong Provincial People’s Committee approved a racecourse project from the Thien Ma Madagui Racing Joint Stock Company in 2014, with a track and equestrian center. The course was to attract even greater numbers of domestic and foreign tourists to the already popular central highlands province.

As planned in the fourth quarter of 2014, the project’s total capital is nearly $46 million. Initially, $23.5 million was to be invested in a stud farm, the racetrack, horse training facilities, greenery, and other infrastructure for importing breeding horses. The remaining $22.5 million was for a polo field, an equestrian center, a riding center and some other supporting facilities.

Implementation, unfortunately, is yet to proceed. Little has been done since licensing, apart from the building of a fence and entrance to the racecourse.

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