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Korean firm, Charmvit, invests $420 million to build horse-racing track in Hanoi

Chairman of Hanoi People's Committee Nguyen Duc Chung on October 14 granted the investment certificate for Charmvit chairman Lee Dae Bong to build a multi-functional entertainment complex - horse racing track in Tan Minh and Phu Linh commune, Soc Son district.
The licensing follows Prime Minister Nguyen Xuan Phuc’s permission to add the project into the Hanoi socio-economic development master plan by 2020, with a vision to 2030.
The project covers 125 ha, including a horse racing track with a capacity of 30,000 audiences, a hotel, a convention centre and a villa complex.
The project is expected to complete construction in 2024 at the development cost of around $420 million. However, Chung has asked Soc Son district authorities to speed up site clearance so that the horse-racing track can be operational in October next year.


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