This is one of dozens of projects introduced by the Ho Chi Minh City Department of Culture and Sports to investors at the conference to promote investment in projects in the culture and sports sector in 2024, held on the morning of October 15.
In addition to the 50,000-seat stadium project, Ho Chi Minh City also introduced 15 other projects at the Rach Chiec National Sports Complex for investors to study and propose investment options.
Notably, the project of a cycling racetrack, integrating a motorbike racing track and an outdoor football field, has an investment of 4,000 billion VND.
Other projects include: Football Academy and cluster of 6 outdoor football training fields (1,000 billion VND), athletics competition fields (1,500 billion VND).
Rach Chiec National Sports Complex was proposed for investment in 1994 with an initial planning area of 466 hectares and was expected to become an Olympic-standard sports center.
However, the area is now only 212 hectares after many adjustments and until now the project has not progressed, this area is still just empty lots mixed with swamps.
In 2017, Ho Chi Minh City restarted the project to prepare for the 31st SEA Games, but after the city withdrew from the hosting role, the project was stalled again.
In December 2023, applying Resolution 98, Ho Chi Minh City included Rach Chiec National Sports Complex in the list of cultural and sports projects invested in the form of public-private partnership (PPP), opening up opportunities to revive the project.
In addition to the projects in Rach Chiec, Ho Chi Minh City also introduced 5 other projects: Construction of a new A-B Labor Art Performance Center (District 5) with a total capital of 164 billion VND; construction of Gia Dinh Theater (Binh Thanh District) with 250 billion VND; construction of a new City Cultural Center (District 1) with 295 billion VND; Ho Chi Minh City Cultural and Arts Center in the new urban area of Thu Thiem (total investment has not been determined). In particular, the Multi-purpose Cultural and Sports Center in Can Gio District is proposed with a total investment of 1,643 billion VND.
Chairman of the Ho Chi Minh City People's Committee Phan Van Mai said at the conference that the National Assembly has granted Ho Chi Minh City special mechanisms and policies under Resolution 98, including investment policies in culture and sports.
Mr. Phan Van Mai is also concerned about the fact that the city does not have enough facilities to organize major events such as the SEA Games or regional and international events.
The Chairman of the Ho Chi Minh City People's Committee hopes that through the investment promotion conference, investors and relevant parties will join hands to solve this problem, helping the city have enough facilities to organize major events by 2030, while promoting the further development of the cultural industry.
