In the afternoon of October 23^rd, 2020, at the office of Saigon Telecommunication & Technologies Corporation (SAIGONTEL) in Ho Chi Minh City, the signing ceremony of a business cooperation contract between SAIGONTEL was organized and represented by Ms. Nguyen Cam Phuong (General Director) and ACDL - represented by Mr. Peter Todd Meyer (Director) with the witness of the representatives and other leaders of Department/Division of the two companies with the aim of cooperating, establishing a joint venture company to implement and develop the project of entertainment complex in Binh Chau Town, Xuyen Moc District, Ba Ria - Vung Tau Province.

Mrs. Nguyen Cam Phuong – SAIGONTEL’s General Director and Mr. Peter Todd Meyer - Director of ACDL signed the cooperation contract with the witness of representatives of both parties.

Horse racing is the oldest sport in the world and attracts many people. The project is a model of tourism, recreation, and resort combined with horse racing sport with a total investment of up to 400 million USD on a total land area of ​​116 hectares, of which the racecourse - horse racing stadium with 45 ha; the center area for reception and conference is 3.08 ha; The hotel - commercial center area is 4.4 ha; Resort 7.45 ha; water sports and landscape 29.8 ha.

According to the signed cooperation contract, SAIGONTEL participates in cooperation with ACDL at the rate of SAIGONTEL 51%, ACDL 49%. The two sides will operate and develop the project together through the establishment of "Project Company" joint venture company.

The cooperation in the implementation of the project will help take advantage of the available strengths, capacities and experiences of both parties. Especially SAIGONTEL's professional experience in the field of investment and development of various real estate projects across the country and ACDL's expertise in resort real estate, through Subsidiaries with 100% ACDL's capital is Ho Tram Project Company Limited, which is the Ho Tram Strip project developer with a total investment of 4.5 billion USD.

The project "Entertainment complex in Xuyen Moc district, Ba Ria - Vung Tau province" promises to be a "new wind" in the real estate market, contributing to change the resort real estate overview in Vung Tau city and create more diversity in the series of SAIGONTEL’s projects.

Communication Department