Vietnam said yesterday it had decided against hosting the 2019 Asian Games for financial reasons, and was exploring procedures to withdraw from staging the region's top sporting event.

Vietnam will "quickly work with the Olympic Committee of Asia for measures to pull out from the hosting of ASIAD 18 in Hanoi," said a statement posted on the government's website 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. Hanoi won the rights to host the Games in November 2012.

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