TOKYO — Hà Nội’s People’s Committee, BRG Group and Japan’s Sumitomo Corporation Group on Monday signed a co-operation agreement to develop a US$4 billion smart modern city, the Nhật Tân-Nội Bài project.

The signing was witnessed by Prime Minister Nguyễn Xuân Phúc, who is on an official visit to Japan.

Covering an area of 2,080 hectares, the Nhật Tân-Nội Bài project will be built along both sides of Võ Nguyên Giáp Road. The architectural plan of the modern city includes an international financial centre, ASEAN village, a culture/business fair centre and an expansive exhibition centre, all located north of the Red River.

The detailed plan of the project’s three sections, which will occupy a length of 11.1km, was approved in early 2016.

Nguyễn Thị Nga, chairwoman of BRG, said the project would play a significant role in promoting the overall development of Hà Nội and the country, and is expected to become Southeast Asia’s most modern urban area.

In 2011, BRG Group became an investor in planning the Nhật Tân-Nội Bài route (Võ Nguyên Giáp Road). Since then, it has worked with the Construction Planning Institute in Hà Nội and Việt Nam Urban Planning and Development Association to set up a council that would select ideas and plans, and choose a foreign consultant for the project. P&T, a leading international consultant group, has been selected.

In April this year, the BRG Group inked a deal with Sumitomo Corporation, among the largest three enterprises in Japan, to develop the project; it had signed a multi-faceted strategic co-operation with the corporation last December.

During the PM’s recent trip to the US, the Hà Nội-based BRG Group signed a co-operation agreement with Hilton Worldwide Group to jointly develop the Vietnamese travel and tourism market, and inked a deal with Nicklaus Design to develop golf courses in Việt Nam.

FECON inks co-agreement with Japanese expressway companies

Two Japanese expressway companies will transfer their technology and management capacity in transport infrastructure to Việt Nam’s Foundation Engineering and Underground Construction Joint Stock Company (FECON).

The move is part of a strategic co-operation agreement on investment and development of transport infrastructure projects in Việt Nam signed between representatives of Japanese companies East Nippon Expressway Company (NEXCO) and Expressway International Company Limited (JEXWAY), and leaders of FECON and its subsidiary FECON Infrastructure JSC (FCI) in Tokyo today.

The signing ceremony was witnessed by Prime Minister Nguyễn Xuân Phúc and his Japanese counterpart Shinzo Abe at the investment promotion forum during Phúc’s visit to Japan from June 4 to June 8.

Under the agreement, NEXCO and JEXWAY will also connect FECON with other Japanese investors and partners, as well as create opportunities for investment in transport infrastructure in other countries in the region.

In the first phase of co-operation, the two Japanese companies will buy 20 per cent stake owned by FECON in its BOT (build-operate-transfer) project that includes a bypass road on National Highway No . 1 at Phủ Lý Town and reinforcement works at Km215+775-Km235+885 of the northern province of Hà Nam.

NEXCO and JEXWAY will take part in managing and operating the project, as well as applying their experience and advanced management technology to this project.

The two Japanese companies are the first foreign businesses participating in the BOT transport sector in Việt Nam.

Miyaike, chairman and CEO of NEXCO, said the signing of the agreement and purchase of the stake marked the start of partnership co-operation with Vietnamese potential companies, such as FECON and FCI, as well as its official participation in a project in Việt Nam.

Miyaike also committed that NEXCO would co-operate with FECON to conduct researches on expressway projects in the country.

Phạm Việt Khoa, chairman of FECON, said the participation of NEXCO and JEXWAY in Phủ Lý bypass road project would make a great contribution to its success and bring about Japan’s scientific operation and exploitation method to Việt Nam.

The Phủ Lý bypass road project was kicked off in 2014 and completed in 2016. The 43-km project had more than VNĐ2.04 trillion (US$89.6 million) investment through a joint venture among FECON, Cotec Construction Joint-Stock Company (Coteccons) and Civil Engineering Construction Corporation 1 (Cienco 1) with ownership of 40 per cent, 35 per cent and 25 per cent, respectively. — VNS