Sumitomo wants to speed up its smart city project in Hanoi, President cum CEO of Sumitomo Corp Masayuki Hyodo said at a meeting with Chairman of the Hanoi People's Committee Nguyen Duc Chung on December 10.

At the meeting, Masayuki Hyodo pledged to work harder to build the smart city in northern Hanoi for the capital city’s socio-economic development.

Chairman of the Hanoi People's Committee Nguyen Duc Chung and leaders of BRG Group and Sumitomo Corp (Japan). Photo: Thuy Linh

The CEO of Sumitomo Corp added that during the visit he wanted to get updated on the progress of the project that is jointly invested by Hanoi-based BRG Group. In addition, he proposed adjustments to the project to meet approval schedule and upcoming implementation.

For his part, Chung emphasized his support for the project, and informed that the procedures of planning adjustments have been submitted to the Hanoi government and are being implemented in accordance with Vietnamese regulations.

The municipal government agreed with specific contents of planning and adjustments made by architects and experts, Chung said.

He noted that site clearance in the project area has been urgently and effectively deployed, disbursement for the first phase of the project is expected to be completed before Vietnamese Lunar New Year.

The Hanoi mayor also affirmed that the land use price in the first phase of the project in 2020 will remain stable.

The smart city project in Dong Anh district of Hanoi is carried out by a joint venture between BRG Group and Sumitomo Corp with a total investment of US$4.138 billion, the largest of its kind in Vietnam.