Korean Corporation Wants to Build Racecourse in Vietnam

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Chairman of the Korea’s Horse Racing Corporation Mr Choi Hank Soo have just had a meeting with the People’s Committee of Bac Ninh province (Vietnam) to explore opportunities for cooperation in this locality by setting up a business.

At the meeting, Mr Choi Hank Soo said that the purpose of this trip to Bac Ninh is to explore investment opportunities to build the racecourse and entertainment complex in Thuan Thanh district (Bac Ninh), with investment capital in the first phase reaches 500 million USD.

When the project goes into operation, it will form the kind of attractive sport and entertainment services for the community, creating jobs for 5,000 – 10,000 labors, making great contribution to the budget and contributing to the economic and social development of Bac Ninh province.

According to Chairman of Bac Ninh province, this highly feasible project has large-scale investment, under conditional business lines that require the approval of Vietnam Prime Minister. Provincial Leaders recommended the Korea Corporation to coordinate closely with the concerned departments to complete the procedures according to Vietnam law, submitting to the ministries and Prime Minister for approval.

Chairman of Bac Ninh province also committed that within 10 working days from the time receiving the approval of Prime Minister, this province will complete the legal formalities for the project to be implemented soon and put into operation in an effective way.

Reportedly, a project to build 27-hole golf course is being implemented in Thuan Thanh district (Bac Ninh).

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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