Ministry of Culture, Sports and Tourism "clarifies" about funding for ASIAD 18

Along with preparing forces for the 18th ASIAD to take place in Vietnam in 2019, the budget for organizing this major sporting event is the issue that the press is most interested in at the press conference on the afternoon of November 29 organized by the Ministry of Culture, Sports and Tourism in Hanoi.

My Dinh National Stadium will be the venue for the main activities of the 2019 Asian Games (Source: VNA)

According to the Organizing Committee, with the current difficult economic situation, the cost of organizing a major regional sporting event like the 18th ASIAD is not a small problem. Although the Vietnam Olympic Committee has proposed a very economical plan, many people are worried that the figure of 150 million USD is not feasible, and will certainly increase in reality. This makes it more difficult for Vietnam to organize the above event.

However, Mr. Hoang Vinh Giang, Permanent Vice President of the Vietnam Olympic Committee, said that hosting the ASIAD is an opportunity that does not always come. Moreover, the investment from this event has been calculated through the coordination of television copyright with the OCA. It is estimated that the revenue can reach 25-30 million USD.

According to Deputy Minister of Culture, Sports and Tourism Le Khanh Hai, if 150 million USD is divided equally over 7 years of public investment, it is not much. It is even too little when that amount is spent on developing the sports career.

In addition, that figure has been agreed upon by many ministries and sectors. Furthermore, the Ministry of Culture, Sports and Tourism has coordinated with sectors and localities to develop specific projects to use investment resources most effectively and scientifically. Currently, 14 provinces and cities have applied to host ASIAD events, of which 12 localities have committed to proactively investing in the construction of facilities to serve this major sporting event.

Meanwhile, Mr. Can Van Nghia, Director of the Vietnam National Sports Complex, said that the facilities in Hanoi and the whole country are 80% ready. In particular, the two major projects that will host many ASIAD events, the National Sports Complex and the Aquatics Palace, have basically met the requirements. However, there are still two items of interest: the velodrome and the indoor sports area.

Currently, the land fund for these two items is ready, the call for social investment was implemented 2 years ago when Vietnam started campaigning to host ASIAD.

For the cycling track, Vietnam has entered into a joint venture with a Korean contractor and at the end of 2013, started building the track along with a hotel and entertainment complex in the form of socialization, in which Vietnam contributed 30% of the capital in land, and the Korean contractor will invest 500 million USD.

When the hotel and entertainment complex is completed and put into operation, it will create resources for reinvestment in other projects serving ASIAD and socio-economic development./.

According to (vietnamplus.vn)-LT