The Ministry of Finance is drafting a decree on betting operations for horse racing, dog racing, and international football.
For horse racing, betting products are based on the ranking of horses at the finish line and events occurring during the race. Permitted horse racing events include:
1. Races organized by betting companies at racetracks according to the decree.
2. Races organized by the International Federation of Horseracing Authorities (IFHA) or its members.
Regarding racetrack investment, projects must have a suitable location for construction, align with provincial planning, and have a minimum total investment of 1 trillion VND. For foreign investors, their combined investment ratio must not exceed 49% of the total project investment.
For businesses, to obtain a betting operation license, they must meet conditions such as completing racetrack construction, having a minimum charter capital of 1 trillion VND, and ensuring foreign-owned entities’ combined share does not exceed 49% of the company’s charter capital.
For participants, a key requirement is being at least 21 years old and having full civil capacity as per Vietnamese law.
Prohibited participants include:
1. Management, executives, and employees of betting companies participating in bets at their own workplace; race supervisors, jockeys, players, and referees betting on races they oversee or participate in.
2. Individuals whose family members with full civil capacity or themselves have submitted a request to the betting company to prohibit their participation.
3. Individuals under criminal investigation, serving sentences without expunged records, or undergoing rehabilitation in mandatory education or addiction treatment facilities.
In June 2024, Vinhomes Royal Island launched the Vinpearl Horse Academy Vũ Yên in Hải Phòng.
Spanning 30 hectares, the academy features a modern reception area, 300 professional horse stables, multi-level training zones, a nearly 1-hectare performance arena with elevated seating, a recreational racetrack, cross-country riding trails, a high-end veterinary hospital, and horse wellness facilities like exercise machines and farrier services.
A notable project is the Thiên Mã – Madagui Horse and Dog Racetrack – Polo and Equestrian Club by Thiên Mã – Madagui Horse Racing JSC in Lâm Đồng Province, founded by Vietnamese-American entrepreneur Nguyễn Ngọc Mỹ.
In February 2025, Deputy Prime Minister Nguyễn Hòa Bình approved the project, including horse and dog race betting operations.
The Thiên Mã Madagui Racetrack project in Đạ Huoai District has a total investment of 1.548 trillion VND.
On September 21, Lâm Đồng Province Chairman Hồ Văn Mười inspected the Thiên Mã Racetrack complex in Đạ Huoai.
To expedite the project, the Deputy Chairman urged the company to prepare proposals and documents for approval, ensuring compliance with legal procedures.
Thiên Mã – Madagui Horse Racing JSC, established in 2012 in Đạ Huoai, is chaired by Nguyễn Ngọc Mỹ, a Vietnamese-American businessman from Hà Tĩnh Province. In the early 2000s, he introduced dog racing to Vietnam with the Lam Sơn Dog Racetrack in Vũng Tàu.
Another major project is the Sóc Sơn Horse Racetrack in Hanoi. In August 2025, Vice Chairman Nguyễn Trọng Đông urged Sóc Sơn District to leverage its potential for sustainable economic development, prioritizing key projects like the multi-purpose entertainment complex and racetrack.
The project includes a 995,000 m² racetrack with a 30,000-seat grandstand, training and care facilities, a 22.5-hectare lake, a 3-star hotel, conference center, and villas. Fifty betting centers nationwide will allow customers to watch races, relax, and place bets.
Charmvit Group is the investor, with operations expected to begin in 2028. The project will create 5,000 direct jobs and attract 25,000 workers in related services.
Vietnam Sits on a Massive “Treasure Trove”: Potential to Earn $1.9 Billion Annually from the Global Market
Vietnam is truly a treasure trove of “golden forests and silver seas,” embodying sustainability in its purest form.
“Vietnam’s Rare Achievement: Partnering with a Micro-Nation of 11,000 in an 80-Year-Old Global Organization”
Nestled in the heart of the South Pacific, this enchanting island nation captivates with its serene beauty and unique charm. A hidden gem, it offers a tranquil escape from the ordinary, inviting you to discover its pristine landscapes and vibrant culture.
“Western Tourists Obsessed with Vietnamese Specialty: ‘Drinking as Much as Possible Before Leaving’”
Vietnam is renowned as a culinary paradise, captivating international visitors with its irresistible flavors. Recently, a Western traveler made headlines by revealing he exclusively drank one particular beverage for two straight weeks.
Which Real Estate Sector is Experiencing the Most Significant Price Surge?
Real estate prices are surging, with land plots leading the charge at a remarkable 44% increase. Close behind, apartments have seen a 42% rise. Other property types, including private houses, project land, and townhouses, have also experienced growth, with increases of 28%, 14%, and 1% respectively during the same period.
Prime Minister Urges Vingroup-Led Consortium’s $7.5 Billion Plant to Achieve This Goal
The Prime Minister emphasized the profound significance of the two newly launched projects, particularly as the nation accelerates its economic restructuring, transitions to a new growth model, and embraces green and digital economies, alongside advancements in science, technology, and innovation.
