Reports
SOUTH EAST ASIA - VIETNAM
l1
With a young population of 94.3 million people, Vietnam is one of the TOP retail markets in the world. Due to the dynamic economic growth, the disposable income of the population is steadily increasing. Following this trend, a high-spending middle class is emerging, especially in the larger cities. As an example, the average annual GDP per capita in Ho Chi Minh City is 4,500 USD, where the young population is especially asking for foreign brands.
l2
Many areas of the Vietnamese market are still young, and therefore not densely occupied. Additionally, the local population has strong brand awareness, and Western products enjoy high reputation.
Te Lam Dong province approved a racecourse project from the Tien Ma Madagui Racing Joint Stock Company in 2014. After a lull construction has just begun and is expected to be operational by 2018. Hong Kong’s Matrix Holding proposed a development for horse racing complex in the city of Da Nang, which would include horse racing, health care units and betting and entertainment services.
thoroughbreds. When Tien Ma Company came along part of their plan was to introduce thoroughbreds and 40 horses were initially imported from Australia. One thoroughbred race was held a week and races increased to around 900 a year and betting turnover was around US$11m at the time.
Officially betting is illegal so they play a horse racing lottery for first and second place winners. Jockeys are often children and can start training to be jockeys from the age of 14. Races were held on a direct tack of 1,650m in length.
Tere is now a renewed interest in opening more racetracks in the country and there are several investors currently looking at the market and it is anticipated that by 2019 there will be three race tracks open in Vietnam in total, which many say the market can easily accommodate.
One such track is the Dai Nam Joint Stock P84 NEWSWIRE / INTERACTIVE /
247.COM
Company, which has sealed its plan for the opening of a new horse racing track at the Dai Nam Tourism Park in the Binh Duong province. Te track was due to open at the end of 2016.
Te tourism park is a huge resort with amusement park, water park, theme park, temple and zoo.
Te race course was due to open at the end of 2016 after construction began in July 2016 with a $100m investment. It will occupy a 60 hectare area at the tourism park and accommodate 20,000 people initially increased to 60,000 total capacity. It will also host dog racing, motorbike racing, water motor sports and all terrain vehicle racing. It hopes to attract up to five million visitors a year to the park once the track is opened, an increased from the two million visitors received at the moment. Te 1,600m track will offer races three times daily and six times daily at weekends.
Meanwhile South Korean company G.O Max I&D Company is also pursing a project to build a horse racetrack in northern Vinh Phuc province with an anticipated investment of US$1.5bn. Te project will also include golf course, sport and entertainment area, housing and equestrian centre and polo club. Te company also aims to open 70 betting shops in 54 cities and provinces and is said to be the largest such project.
In addition, in June 2016 in Phu Yen province the Australian Golden Turf Club company agreed to invest $100m to build a racecourse on 134 hectares of land due to be completed by 2019. Te company received permission from the Binh Phuoc province to build a racecourse in the southern region as part of the Binh Phuoc Recreation Complex Project. However, due to delays in construction it appears this licence has since been revoked. It was originally granted in 2010 to the Australian owned Binh Phuoc Entertainment Company Ltd to include race
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148