VietNamNet Bridge – Vietnam plans to spend US$150 million on organising the 18th Asian Games (ASIAD) in 2019. Yet, is the figure sufficient enough for such a big event?

Sports Minister Anh said the estimated US$150 million financial plan is feasible (Photo: TTO)

At a meeting in Hanoi on March 18, many deputies to the National Assembly Committee for Culture, Education, Adolescents and Children raised concerns about the feasibility of the government’s estimated financial plan for the Asian sporting event.

In a Q&A session, Minister of Culture, Sports and Tourism Hoang Tuan Anh confirmed his ministry has considered all eventualities and the estimated figure is financially viable.

He reported the Republic of Korea has spent approximately US$1.6 billion on the 14th Asian Games which is due to take place in Incheon City later this year.

“The RoK figure includes investment in infrastructure construction and upgrade, but in Vietnam we will organise the event closely linked to the infrastructure development strategy of Hanoi,” said Anh.

He explained the US$150 million figure excludes investment in infrastructure construction, in Hanoi and other competition venues.

“For example, the airport and road system will be upgraded using capital from State and local budgets under the approved development plan. If we make the best of these infrastructural facilities, we will successfully organise the upcoming Asian Games,” Anh assured lawmakers.

Deputy Minister of Finance Do Hoang Anh Tuan took the floor, elaborating on arguments that Vietnam will have 80% of infrastructural facilities in hand for ASIAD 2019.

“Vietnam still needs to build and upgrade facilities for competitions at a total cost of VND5.8 trillion (roughly US$28 million), and if local investments are included, the financial plan for ASIAD 2019 is highly feasible,” he said.

The upcoming ASIAD 2019 comprises 35 different sports and Vietnam aims to bring home 10-15 gold medals from the event.

Source: VOV