Amid the ongoing Fourth Industrial Revolution, Vietnam is taking advantage of the ASEAN Smart Cities Network in order to formulate several policies on building smart cities and attracting deeper investment.
Hanoi has been working to enhance administrative reform and address difficulties in an effort to create an optimal investment climate for investors, Politburo member and Secretary of the Hanoi Party Committee Vuong Dinh Hue has said.
With robust economic growth and a sound business climate, the northern port city of Hai Phong has remained popular among both domestic and foreign investors, said Chairman of the municipal People’s Committee Nguyen Van Tung.
Proptech in Vietnam is developing and expanding on the back of strong momentum in the Vietnamese real estate market, due to its benefits in improving accuracy and speed, as well as cost savings and convenience.
The private sector in Vietnam should receive support to become a pillar of the national economy, said Nguyen Thi Nga, Chairwoman of BRG Group.
Primarily located on the route directly linking Hanoi city centre and Noi Bai International Airport, the Smart City project is a stepping stone towards Vietnam’s socio-economic development ambitions.
Vietnamese developer BRG Group and Japan’s Sumitomo Corporation have officially announced their US$4.2 billion smart city project on the outskirts of Hanoi.
Investing in smart cities is not only a trend in the fourth industrial era but also a new drive and solution for developing urban areas sustainably.
The growth and openness of the economy have made Vietnam an attractive retail market for both domestic and foreign retailers.
A modern city with many public facilities and utilities serving people, suitable investment attraction, and effectively supporting the policy of relaxing Hanoi’s inner city are the targets of a smart city project in accordance with the development master plan of the Nhat Tan-Noi Bai area.
A ceremony was held in Hanoi on May 19 to announce the implementation of Sanrio Hello Kitty World Hanoi by BRG project - the first entertainment complex by the group in Southeast Asia.
Vietnamese hoteliers are beginning to turn the tables in the resort chain world by snapping up properties from international hotel chains.
The real estate market is expected to gain momentum in 2019 thanks to the heat from several billion-USD property projects that received investment certificates in previous years.
Japanese retailers such as Aeon, Takashimaya, 7-Eleven and FujiMart are expanding operations in Vietnam and changing local consumption habits.
Fujimart Vietnam Retail, a joint venture between Japanese trading house Sumitomo and local retail and real estate conglomerate BRG Group, will open its first Vietnamese supermarket in Hanoi this month.
The capital city of Hanoi has become the most attractive locality for foreign direct investment (FDI) in Vietnam for the first time, with total registered capital estimated at US$6.5 billion.
The total fund for the first phase of Hanoi's smart city project is estimated at over US$1 billion.
Japan, the second biggest investor in Vietnam, is continuing to pour billions of USD into new projects in the Southeast Asian nation, an investment partnership expected to grow stronger after a State visit to Japan by President Tran Dai Quang.
Vietnam’s real estate sector has witnessed significant participation from Japanese investors through cooperation with Vietnamese businesses recently, promising to bring benefits to the real estate market.
Real estate ranked third among business fields which received the most FDI (foreign direct investment) capital in 2017, with US$3.05 billion committed, accounting for 8.5% of total registered FDI capital, according to the Foreign Investment Agency.