AKIPRESS.COM - Vietnam has withdrawn as the host of the 2019 Asian Games, saying it lacked funds and the country's reputation could be at risk if things don't go smoothly.

The government's initial decision to host the games had generated little excitement domestically, and there had increasing opposition in the media and on blogs. Many questioned whether the cost — in the hundreds of millions of dollars — was worth it given the country was still struggling to emerge from the global financial crisis.

In a statement late Thursday, the government said hosting the event in Hanoi was unjustifiably expensive.

"Hosting this could help us promote the country's image and position. However if the hosting is not properly and successfully prepared, it will have the opposite effect," the statement said.

"The state budget is limited and must be prioritized for other immediate tasks," the Associated Press cites the government on April 18.