Chinese firms seek to develop smart urban areas in Vietnam

Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.

Director of CCC Infrastructure Co. Fung Wai Ka Thomas and chairman of Hero Group Lai Rong Huo revealed this intention at a meeting with Vietnamese Deputy Prime Minister Nguyen Chi Dung in Hanoi on Wednesday.

They said their companies are also interested in investing in high-quality industrial parks in various provinces and cities across Vietnam. They proposed the Vietnamese government support them in exploring investment opportunities in the country.

Deputy PM Dung said he welcomes the Chinese firms’ interest and plans to invest in Vietnam, especially in the field of smart urban development. He asked them to work directly with local authorities to receive guidance and prepare investment proposals.

He noted that Vietnam has issued policies to develop smart urban area chains with centrally-governed cities as cores.

“Enterprises are encouraged to collaborate with Vietnam in various areas, such as financial and technical support for pilot projects, research, governance technology transfer, and human resources training,” he said.

They can directly invest in developing smart urban area projects in potential localities, initially piloting models in smaller urban units such as communes and wards, he added.

The Deputy PM affirmed the government's commitment to supporting and facilitating effective investment and business operations of Chinese enterprises in Vietnam.

Established in 2000, CCC Infrastructure is a leading firm in market research consulting, investment advisory, asset portfolio management, and financial services.

Meanwhile, Hero Group is a diversified real estate enterprise specializing in smart and sustainable urban development, with 20 affiliated companies operating in major Chinese cities.

Bac Giang and Bac Ninh provinces were recently merged to form the new Bac Ninh province, a neighbor of Hung Yen, Lang Son, Quang Ninh, Thai Nguyen, Hai Phong, and Hanoi.

Long An and Tay Ninh were merged to establish the new Tay Ninh province, which borders Dong Nai, Dong Thap, Ho Chi Minh City, and Cambodia.