The Prime Minister has directed the withdrawal of the bid to host the 18th Asian Games.

The Prime Minister has instructed the Ministry of Culture, Sports and Tourism to take the lead, in coordination with the Ministry of Foreign Affairs and the Hanoi People's Committee, in urgently working with the Asian Olympic Council (OCA) and relevant partners to develop a suitable plan to withdraw from hosting and not organize the 18th Asian Games in Hanoi.

The Prime Minister ordered the withdrawal of Vietnam's bid to host the 18th Asian Games.

This is the content of Official Document 157/TB-VPCP dated April 17, announcing the Prime Minister's conclusions on hosting and preparing for the 18th Asian Games (ASIAD 18).

According to the official document, on April 17th, at the Government headquarters, Prime Minister Nguyen Tan Dung chaired a meeting on hosting and preparing for the 18th Asian Games in 2019. Attending the meeting were Deputy Prime Minister Vu Duc Dam, Minister of Culture, Sports and Tourism Hoang Tuan Anh, and leaders from the Ministries of Finance, Planning and Investment, Foreign Affairs, the Government Office, and the People's Committee of Hanoi.

After hearing reports from the Ministry of Culture, Sports and Tourism, the Government Office, and the opinions of the delegates attending the meeting, Prime Minister Nguyen Tan Dung concluded:

1. The Politburo, the Secretariat, and the Government have adopted a policy of preparing the necessary conditions to host regional and international sporting events, including the ASIAD, at an appropriate time to contribute to the development of sports and the socio-economic development of the country. The Ministry of Culture, Sports and Tourism and the People's Committee of Hanoi have campaigned and been accepted to host the 18th ASIAD in 2019 in Hanoi.

The Vietnamese government thanks the Olympic Council of Asia (OCA) for its support and assistance to Vietnam in the development of sports in general, and for supporting Hanoi's hosting of the 18th Asian Games in particular.

2. Vietnam lacks experience in organizing large-scale sporting events like the Asian Games (ASIAD). Preparations for hosting ASIAD 18 were not thorough. When bidding to host, there was no comprehensive plan to guarantee the successful organization of ASIAD if the bid was accepted.

To date, the plan for organizing the 18th Asian Games has not yet been approved by the Prime Minister. There are still many differing opinions regarding its purpose and significance, and significant differences exist regarding the total investment amount and specific funding sources (central government budget, local government budget, socialized funding, and revenue from the Asian Games).

3. Successfully hosting and organizing regional and international sporting events will contribute to socio-economic development and promote the image and enhance the country's standing. However, if the organization is not thorough or successful, it will have the opposite effect.

In reality, major sporting events held in Vietnam and around the world have shown that most of the revenue generated does not cover the costs, and the efficiency of using many facilities after the event is not high.

Against the backdrop of the severe impact of the global financial crisis and economic recession, our country's socio-economic situation remains challenging. The state budget (both central and local) is very limited and must prioritize investment in many other extremely urgent tasks. Furthermore, the investment in new construction projects necessary for the 18th Asian Games through a socialized model, such as the velodrome, athletes' village, equestrian and pentathlon venues, as well as the projected revenue from the Games to supplement organizational costs, lacks a solid foundation and is very difficult to guarantee.

After careful consideration, the Prime Minister instructed the Ministry of Culture, Sports and Tourism, in coordination with the Ministry of Foreign Affairs and the Hanoi People's Committee, to urgently work with the Asian Olympic Council (OCA) and relevant partners to develop a suitable plan to withdraw from hosting the 18th Asian Games in Hanoi. Vietnam will apply to host the Asian Games at a more appropriate time.

According to Bongdaplus.vn