HÀ NỘI — The groundbreaking ceremony for Asia’s largest, and the world’s fifth largest, exhibition and fair complex was held in Hà Nội last Saturday.

Municipal authorties and a member company of property giant Vingroup organised the groundbreaking ceremony for the 90-hectare National Exhibition Centre in Đông Anh District, about 15km from the centre of the capital.

Vingroup member Việt Nam Exhibition Fair Centre Co Ltd said the complex would provide more than 550,000sq.m of indoor space, including shopping, convention and trade promotion centres and five-star hotels.

The company said the complex was designed by the German architectural firm GMP and  is expected to be completed in the fourth quarter of 2018. It did not reveal the amount of investment capital for the work.

“When it opens, the complex will be able to promote local advantages in hosting international exhibitions. This will be a driving force for economic development in northern Hà Nội,” said the chairman of the municipal People’s Committee, Nguyễn Đức Chung.

The complex is reportedly among the key projects prioritised for investment, in line with the Hà Nội Capital Region Master Plan adopted by the government for development of the city by 2030.

The Master Plan aims to make the capital region a major centre for economics, services and trading -- not only within the country, but also in the entire Asia-Pacific region -- by 2050.

"Implementing the project at this time will help the country take better advantage of co-operation opportunities resulting from global integration, especially opportunities arising from the Trans-Pacific Partnership and the ASEAN Economic Community,"said Chung.

The exhibition complex features a lotus. Its design won first prize at an architectural contest held by Vingroup in July 2015.

Vingroup also deals in entertainment, healthcare and education. Its popular brand names in Việt Nam include Vinhomes, Vincom, Vinpearl, Vinmec and Vinschool. — VNS