RoK eyes to invest in building smart urban areas in Can Tho

A delegation of the Korea Overseas Infrastructure and Urban Development Corporation (KIND) of the Republic of Korea (RoK) had a working session with officials of the Mekong Delta city of Can Tho on opportunities to invest in developing smart urban areas in the locality.

During a reception for the RoK delegation on October 12, Vice Chairwoman of the municipal People’s Committee Vo Thi Hong Anh said Can Tho is in need of developing such fields as management and operation of export processing zones and  industrial parks; climate change adaptation and environmental protection in urban areas; managing and developing urban areas and residential areas, and housings, and effectively using land; and intelligent traffic; and using database, thus helping the municipal authorities build development solutions for the city.

The city is calling for investment from units that are capable of joining investment in projects in the city, she said, adding that she hopes Korean investors to engage in developing large shopping centres in Can Tho to serve investors from other countries.

A direct air route has been opened between Can Tho and the Republic of Korea, she stressed, affirming that the municipal authorities will work closely with investors to solve related issues as quickly as possible so that the two sides will successfully implement projects.

Teakwon Seo, Executive Vice President of KIND, said his agency wishes to invest in developing smart urban areas in Can Tho.

As KIND is still working on specific options of investing in the Mekong Delta region, it is favourable to invest in Can Tho because it is the largest city in the region and has relatively good infrastructure system, he said.

KIND, the agency under the Korean Ministry of Land, Infrastructure and Transport, is working in promoting public-private partnership (PPP) projects abroad, and capable of directly investing in projects as an investor through the acquisition of a portion of equity or as a direct lender. It currently manages investment funds with a total capital of up to US$1.5 billion.

The organisation's investment and support areas include transport infrastructure, urban development, electricity, energy and petrochemical industries; water resources and environmental infrastructure. In Vietnam, KIND is operating projects in urban development with a total investment capital of US$390 million.

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