For a couple of years now, Taiwan has been making plans to construct a speedway and a racecourse to spur economic growth in the less developed southern portion of the island.

The plans are similar to those of govenrments around Asia which aim to generate new economic activity from local and international tourists through auto and horse racing.

Since a horse racecourse would include wagering, changes to some laws will be required. Thus construction for the car racing project may begin first.

According to preliminary plans, the track would be located in the relatively poor Yunlin County, either in Chiayi or Pingtung.

In the past, Taiwan had plans to set up gambling facilities in some of its smaller islands in a bid to foster economic development. But those continue to remain in the drawing boards.

The plans in Taiwan reflect similar developments, particularly in gambling, that have seen several major projects take off in the Asain region over the last few years.

For example, in Macau, global players like Las Vegas Sands and Wynn Resorts have opened up mammoth projects.

Singapore has also opened two gigantic gaming facilities at Resorts World at Sentosa and Las Vegas Sands at Marina Bay.