VietNamNet Bridge – The Ministry of Culture, Sports and Tourism discussed expenses for the 18th Asian Games (ASIAD), which is to be held in Vietnam in 2019.

In the current economic climate, the expenses of hosting ASIAD may be a burden on the country, with an estimated cost of USD150 million.

Hoang Vinh Giang, Secretary General of Vietnam's National Olympic Committee, on the other hand said that Vietnam stands to make net profits from the event. Having been partners with the Olympic Council of Asia, they project earnings of USD25-30 million from television copyrights and other services.

"If you take a look at the big picture, the investment is not huge. One has to see the investment of USD150 and divide it by the income that will come in over the next seven years," Deputy Minister of Culture, Sports and Tourism, Le Khanh Hai, said.

The plan was also approved by many other ministries and agencies. Currently, there are 14 provinces and cities who have been asked to host the event, with 12 of them saying that they will be proactive in searching for investment.

Can Van Nghia, Director of the My Dinh Sports Complex, said that the infrastructure is basically completed.

Asides from My Dinh stadium and Underwater Sports Palace, concerns have still been raised about the building of a track cycling arena and and indoor stadium.

The organisers have said that the land has been prepared for two years and that they are just awaiting investment.

For track cycling arena, Vietnam is currently co-operating with a South Korean contractor. By the end of 2013, they will start to build the arena, as well as a number of hotels and other service areas. Under the current plan, Vietnam would contribute land and the contractors will invest USD500 million.

Once the complex is completed, including hotels and other tertiary services, those involved said they hoped that it would earn a profit and support other businesses in the area.

VNN/DTriNews