The smart city will be built by a joint venture between BRG Group and Sumitomo Corporation.
The southern economic hub of Vietnam is paying attention on model and solutions implemented by the Indonesian ride-hailing service, desiring to apply them in its smart city development.
The real estate sector continued receiving robust interest from foreign investors by ranking first in the contribution to FDI registration with over $4.9 billion, in which the Smart city project in Hanoi accounted for the majority, according to Savills.
The $4 billion smart city project invested by the joint venture between Vietnam’s real estate developer BRG Group and Japanese-based trading company Sumitomo has been licensed by the Hanoi People's Committee.
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Under the investment plan of the Imex Panpacific Group, the Bac Van Phong special economic zone will include such items as the tourist area, smart city, residential and industrial areas, airport, roads and port area.
The ever largest smart city in Ha Long, Quang Ninh province is expected to be commenced by Amata Vietnam in 2020.
According to the leader of Amata Vietnam, the smart city project located in Ha Long city, Quang Ninh province has the total land area of 5,789ha with the investment capital of $1.6 billion divided into two stages.
The construction of the smart city located on the axis of Nhat Tan - Noi Bai route is expected to commence in the first quarter of next year by the Sumitomo – BRG joint venture.
The US stands ready to sponsor, support and share its experience in building smart cities with Vietnam in general and Hanoi in particular, US Ambassador to Vietnam Ted Osius said.
The Hanoi People’s Committee, BRG Group, and Sumitomo Group have just signed the $4-billion agreement to develop a smart city at the north of Hanoi, along the two sides of Nhat Tan-Noi Bai Highway.
