Japanese-Vietnamese developers want to begin work on Hanoi smart city in 2023

By Anh Tu   March 16, 2023 | 08:39 pm PT
Japanese-Vietnamese developers want to begin work on Hanoi smart city in 2023
An artist's impression of Hanoi's smart city project. Photo by BRG
Japanese trading company Sumitomo Corp and Vietnamese real estate developer BRG Group hope to start work on a US$4.2-billion smart city in Hanoi this year.

Sumitomo chairman and CEO Shiomi Keigo said during a meeting with Hanoi chairman Tran Sy Thanh and Japan’s ambassador to Vietnam, Yamada Takio, on Wednesday that he wished that the authorities would speed the progress of adjusting the 1:500-scale plan for the project soon so that the project could be implemented in 2023, when Japan and Vietnam celebrate the 50th anniversary of the establishment of bilateral diplomatic relations.

BRG chairwoman Nguyen Thi Nga expressed a similar hope.

She said the smart city project would provide smart solutions in the fields of energy, traffic, administration, and education.

Takio too hoped the project would get under way this year and become a symbol of cooperation between Vietnam and Japan.

Thanh said he had directed government agencies to resolve possible problems to help speed up the project.

He said acquisition of land for the smart city was on course and promised to expedite the process of adjusting the 1:500 plan for it.

The two companies signed the agreement for the development in Dong Anh District in the north of Hanoi en route to Noi Bai airport in 2017, with Sumitomo being the contractor and BRG the main investor.

It will spread over 272 hectares.

Set to become the most modern city in Southeast Asia, its highlight will be a tower expected to soar 108 floors.

Sumitomo, which has been in Vietnam since 1995, owns the Thang Long 1 and 2 industrial parks in Hanoi and neighboring Hung Yen Province, and built the elevated section of Ho Chi Minh City’s metro line No.1, which is expected to begin commercial operations this year.

The 30-year-old BRG is a conglomerate with interests in finance and banking, real estate and retail.

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