Vietnam says it will not host 2019 Asian Games

[cirr]

Updated 8 hours 13 minutes ago

PHOTO: China's Yang Jiapeng (left) jumps to block Malaysia's Muhd Futra Abd Ghani during their men's sepak takraw match at the Asian Games in Guangzhou, China, on November 16, 2010. (Carlos Barria: Reuters)


Vietnam says it has decided against hosting the 2019 Asian Games due to financial reasons and is exploring procedures to withdraw from staging the region's largest sporting event.

The nation will "quickly work the Olympic Committee of Asia (OCA) for measures to pull out from the hosting of ASIAD 18 in Hanoi", a statement posted on the government's website said, after Prime Minister Nguyen Tan Dung convened a meeting to examine the issue.

A lack of experience in hosting large sporting events and difficulties in the country's socio-economic situation were cited as reasons.

"Vietnam will apply for the hosting of ASIAD at an appropriate time," the statement said.

In November 2012, Vietnam's capital Hanoi won the right to host the 2019 Asian Games, beating Indonesia's second city Surabaya after Dubai in the United Arab Emirates pulled out just before the vote.

The victory sparked celebrations among Vietnamese officials, who said the decision would unlock millions of dollars in infrastructure investment.

But with the nation's economy in crisis, a decaying sports infrastructure and an uninspiring athletics record, public sentiment hasn't swung behind the official campaign.

Officials said hosting the 18th Asian Games could cost around $150 million and would require the construction of new sporting stadiums and an athletes' village.

But experts have said the real cost of the games, which were scheduled to run for 16 days, could have been far higher.

Vietnam's Olympic Committee initially proposed a budget of around $300 million which the government slashed due to the country's dire economic situation.

It has been hit by falling growth as the effects of corruption and inefficiencies in the state-run sector ripple out into the wider economy.

A lingering banking crisis also threatens some of the country's key financial institutions.

In recent weeks, state-run newspapers and popular blogs have run stories and comment pieces urging the government to withdraw from the Games and spend the money on other priorities.

This year's Asian Games will be held in the South Korean city of Incheon from September 19 to October 4

 

[Edison Chen]

Because Vietnam has to tighten up their pocket to save money, to buy weapons to threaten Chinese fisherman.

 

[xunzi]

LOL! They have money to buy nuclear submarine, but cannot fork out just $300 million to host an event. Wow, just WOW!

 

[Jlaw]

Because Vietnam has to tighten up their pocket to save money, to buy weapons to threaten Chinese fisherman.

Many Vietnamese friends suggested Vietnam should buy a squadron of F35s, and several Burke class destroyers to counter China. Maybe that is why they are saving money?

 

[ViXuyen]

It's called cheap superficial pride; something that we do not need at the moment my friends.

 

[shuttler]

"But with the nation's economy in crisis, a decaying sports infrastructure and an uninspiring athletics record, public sentiment hasn't swung behind the official campaign.

Officials said hosting the 18th Asian Games could cost around $150 million and would require the construction of new sporting stadiums and an athletes' village.

But experts have said the real cost of the games, which were scheduled to run for 16 days, could have been far higher.

Vietnam's Olympic Committee initially proposed a budget of around $300 million which the government slashed due to the country's dire economic situation.

It has been hit by falling growth as the effects of corruption and inefficiencies in the state-run sector ripple out into the wider economy.

A lingering banking crisis also threatens some of the country's key financial institutions."

I was thinking the vietcongs are emerging as the next economic super power!

This abrupt face losing cancellation speaks volumes
$150 - 300 million is a small budget comparing to 2010 Guanzhou AG @ $17 billion
You can count in one hands how many su-35 or the kilo class submarines can the vietcongs buy with the small saving

 

[Edison Chen]

Many Vietnamese friends suggested Vietnam should buy a squadron of F35s, and several Burke class destroyers to counter China. Maybe that is why they are saving money?

USA won't sell Burke to them I guess. At that time, J20 and 055 DDG will already enter service, they have to buy new stuff to counter China with huge expense.

 

[Beast]

It's called cheap superficial pride; something that we do not need at the moment my friends.

Buying useless weapon that waste even more vietnamese taxpayer money is not?

 

[xunzi]

It's called cheap superficial pride; something that we do not need at the moment my friends.

Then why are your people and government jumping up and down in celebration when you won it? LOL! It's not fun anymore when you know your true capability, isn't it?

 

[Beast]

"But with the nation's economy in crisis, a decaying sports infrastructure and an uninspiring athletics record, public sentiment hasn't swung behind the official campaign.

Officials said hosting the 18th Asian Games could cost around $150 million and would require the construction of new sporting stadiums and an athletes' village.

But experts have said the real cost of the games, which were scheduled to run for 16 days, could have been far higher.

Vietnam's Olympic Committee initially proposed a budget of around $300 million which the government slashed due to the country's dire economic situation.

It has been hit by falling growth as the effects of corruption and inefficiencies in the state-run sector ripple out into the wider economy.

A lingering banking crisis also threatens some of the country's key financial institutions."

I was thinking the vietcongs are emerging as the next economic super power!

This abrupt face losing cancellation speaks volumes
$150 - 300 million is a small budget comparing to 2010 Guanzhou AG @ $17 billion
You can count in one hands how many su-35 or the kilo class submarines can the vietcongs buy with the small saving

Some vietnamese troll even brag about how Cambodia and Laos is in their camp in against China with billions of loan from Vietnam. They shall just eat the humble pie and face the reality by waking up from their dream.

Then why are your people and government jumping up and down in celebration when you won it? LOL! It's not fun anymore when you know your true capability, isn't it?

The humble pie is too difficult to swallow for our vietnamese friend

 

[ViXuyen]

Buying useless weapon that waste even more vietnamese taxpayer money is not?

Try us and see if our weapons are useless.

 

[Beast]

Try us and see if our weapons are useless.

We haven try and vietnam already bankrupt.

I heard your president wanted to loan money from China and he will give up all spratly islands to China.

 

[shuttler]

We haven try and vietnam already bankrupt.

they can consider borrowing from the 3rd largest economy by PPP

may be this is why the Russian FM is going to vietnam - trying to recover their money from the toys sold

 

[ViXuyen]

Then why are your people and government jumping up and down in celebration when you won it? LOL! It's not fun anymore when you know your true capability, isn't it?

And do you even know that we have just jumped up and down in celebration when we announce that we would not host the event ? LOL

This separates us from you Chinese. You people are into superficial pride while we Vietnamese are not

 

[rott]

Prime Minister Nguyen Tan Dung announced the move Thursday on the government's official website.

With Vietnam's economy struggling, he said the state budget is limited and must be used for other immediate tasks.

Critics have said the games are too expensive for Vietnam to host. Last month, the government said it would take about $150 million to host the games. But others have said the price could be much higher.

Hanoi was awarded the games in 2012, beating out the Indonesian city of Surabaya. It is not known which city will now host the 2019 games.