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Nutifood Nutrition Food JSC signed an agreement with Ho Chi Minh City authorities to fund the construction of the bridge, which will be built to resemble nipa palm leaves, a popular plant in southern Vietnam, on Monday.
The city announced the design of the bridge in October four years after authorities voted to approve the project.
The nipa palm leaf design is a product of the Japanese-Vietnamese joint venture Chodai - Takashi Niwa Architects and Chodai Kisojiban Vietnam.
The selection committee said the design would allow the pillars of the bridge to stand close to the riverbank and therefore create space for water vessels to pass.
The committee also announced that the bridge would feature a separate lane for bicycles and wheel chairs.
Ambulances will also be able to use the bridge when needed.
Tran Bao Minh, deputy chairman of Nutifood, said the company wants to express its gratitude to the people of the city for helping it to grow from a small business into the large brand it is today.
HCMC chairman Phan Van Mai said at the agreement signing event that the city always prioritizes urban infrastructure projects, but due to limited resources, calling for private investment funds is a policy that the city has frequently applied.
The footbridge, which has not been named yet, will be built between the Ba Son Bridge and the Thu Thiem Tunnel.
One end of the structure will land at Bach Dang Wharf Park in District 1 and the other end will be the central square of Thu Thiem New Urban Area, which is still under development.
