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Hanoi People's Committee has sent the draft socio-economic development plan to 2020 with a view to 2030 to gather opinions from various departments. The Soc Son horse racing track project is also highlighted in the plan.According to the committee, the race course could attract investment and boost tourism. It is estimated the course would cost USD500m and help diversify tourist services. As the horse race track will be built along Kunming-Hanoi-Hai Phong route, the project will help connect multiple services in different regions and possibly make a huge contribution to the state budget.
It will also solve the employment problems as 5,000 jobs will be created directly and the local workforce will be prioritised.
Hotel complexes and shopping centres will be built around the horse racing track and it is estimated that about 20,000 to 25,000 jobs at different services will be created.
The project was first proposed in 1999 in Hoang Mai and Thanh Tri districts. However, due to incomplete legal frameworks that investors withdrew from the project. In 2007, Hanoi Tourist Company and South Korean firm, Global Consultant Network, proposed to continue the project and was approved by the Hanoi authorities.
