Dog racing in Vung Tau City. Recently, Deputy Prime Minister has asked the Ministry of Finance to do research and build a pilot project on the business of international football betting. — Photo dantri.com.vn

HA NOI (Biz Hub) — Deputy Prime Minister Vu Van Ninh has asked the Ministry of Finance (MOF) to do research and build a pilot project on the business of international football betting.

Based on the project, MOF will research and draft a decree on international football betting.

Meanwhile, the regulation governing betting on dog racing and horse racing will be adjusted in a separate decree.

"MOF must receive and present the opinions of the Standing Committee of the National Assembly, the committees of the National Assembly, the ministries and related agencies to complete the draft decree in order to ensure its feasibility," Deputy PM Ninh said.

Last August, the draft decree on the betting business involving horse racing, dog racing and international football was discussed in a session of the Standing Committee of the National Assembly.

MOF said that the issuance of the decree would be crucial for building a legal framework to control betting and enhance the management by the government.

According to the draft decree, any enterprise which wants to do the business of horse racing and dog racing, must have a project to build the race tracks with a minimum committed capital of VND1,000 billion, or US$47.6 million, for horse racing and VND300 billion, or $14.28 million, for dog racing. For the international football betting business, the firms must have a minimum charter capital of VND500 billion, or $23.8 million. — VNS