Japan’s Sumitomo Corporation, along with five other well known Japanese firms will work alongside a number of Vietnamese firms over the next several years to develop a fully urban ‘smart’ city in the north of the Vietnamese capital Hanoi.
The site earmarked for the smart development is the sprawling Dong Anh district of Hanoi, an area a short distance to the north of the capital’s main tourist attraction; the city’s ‘Old Quarter’.
Construction will take place across a 272 hectare area in Dong Anh.
In addition to Sumitomo, the Japanese consortium includes such household names as NTT Communications, NEC, TEPCO, Mitsubishi Heavy Industries, and Hakuhodo.
The only company named to date in Vietnam is the BRG Group Joint Stock Co, a leading company in the country operating a Hanoi based joint venture with Sumitomo since last October, although more companies are expected to be added to the project in due course.
Cost projections prior to development starting have been set at US$ 4.2 billion with work expected to get underway by the end of 2020, on some aspects of the final project.
Initial plans released by Sumitomo have NEC and Hakuhodo – a prominent advertising agency in Japan – combining to provide facial recognition services for residents of the smart-town, in addition to computer systems to improve the local standard of living.
Sources in Japan indicate the first properties to be built will be ready for tenants as early as 2022.