Hanoi City and Tan Hoang Minh Group signed a Memorandum of Understanding to commit investment into 02 projects totalling nearly USD 4 billion.

21.10.2020

(Construction) – June 27, as part of the Conference “Hanoi 2020 – Investment and Development Cooperation”, a Memorandum of Understanding was signed between Hanoi People’s Committee and Tan Hoang Minh Group for investment of 02 large-scale projects in Dong Anh and Chuong My Districts, Hanoi.

Representatives of Hanoi City and Tan Hoang Minh Group signed a Memorandum of Understanding to commit the investment of Xuan Mai Smart City project

Be chaired by Hanoi People’s Committee, Conference made a aloud success as it drew the participation of over 3,000 delegates including leaders of the Communist Party, the Government, Central Ministries and Departments, Hanoi municipality, provinces and cities under the Northern Vietnam key economic region, representatives of diplomatic agencies, international organizations, as well as domestic and international enterprises and investors.

In this Conference, Hanoi City granted investment approval to 229 projects, which totalled VND 405,570 billion (equivalent to USD 17.6 billion). The city leadership also signed 38 Memoranda of Understanding (MOU) with organizations, enterprises and investors for a total estimated investment value of about USD 28.6 billion.

Notably, under the witness of Prime Minister Nguyen Xuan Phuc, Hanoi People’s Committee delivered the memorandum of understanding to Tan Hoang Minh Group for 02 large-scale projects in the city including: Xuan Mai Smart City project in Chuong My District (total investment of phase 1 was USD 3.5 billion) and OUTLET project in Dong Anh District (total investment of USD 400 million). These are considered as two key projects of the city in the coming time.

Xuan Mai Smart City Project in Chuong My District

Costing up to USD 3.5 billion at its initiation, Xuan Mai Smart City project covers an area of about 3,072 hectares and is destined to become a modern and environment-friendly urban area which ensures social utilities such as hospitals, education at all levels, sports, international horse racecourses, golf courses, recreational parks, so on, while preserving the ecosystem and natural landscape. The project is based on the model of smart cities in advanced countries and regions such as South Korea and Japan. Xuan Mai Smart City will apply world’s cutting-edge solutions in terms of artificial intelligence (AI), information technology, green energy regeneration technology, etc., into its operation management.

MR. Do Anh Dung – Chairman cum General Director of Tan Hoang Minh Group (second from left) received the Memorandum of Understanding for investment of Xuan Mai Smart City project.

In November 2019, on occasion of the Prime Minister’s official visit to South Korea, where he attended the 30th ASEAN-ROK Commemorative Summit and Mekong-ROK Summit, Tan Hoang Minh Group signed a cooperation agreement with Sein I&D Vietnam Co., Ltd and Korea Water Resources Corporation (K-Water) to develop and build Xuan Mai Smart City project at the southwest gateway of Hanoi, where a smart city is very much needed to bring into full play the geographical advantages and create a driving force for local socio-economic development.

K-Water will be the provider of intelligent operation management technological solutions, water and environment treatment technologies. Since the initial agreement was signed in South Korea, many more reputable South Korean investors have stepped in, namely: Seoul Housing & Communities Corporation (SH), and Korea Overseas Infrastructure and Urban Development Corporation (KIND). They will implement other technological solutions for the project such as: infrastructure construction technology, intelligent computing technology, artificial intelligence, and intelligent management.

Completed Xuan Mai Smart City will be a satellite urban area that magnetizes new residents, releasing the population pressure of the city centre in line with the master guidelines of the Government, at the same time, creating new living standards, contributing to a well-formed modern landscape for the Capital as well as improving the people’s living values, efficiently using energy and natural resources and protecting the environment.

Tan Hoang Minh Group, by its highest enthusiasm and internal power, in close coordination of South Korean partners, especially, backed by the Prime Minister, the South Korean Government and Hanoi municipality, believes and affirms the possibility to embark on the project as soon as possible after receipt of the investment approval.

OUTLET Project in Dong Anh District

The highly-spirited Tan Hoang Minh Group expects to contribute to the development of Vietnam’s tourism industry in general and Hanoi’s in particular with a vision to 2030-2050 period, by planning a high-quality modern OUTLET Zone that reaches the regional and international levels, covers a land area of about 100 hectares and costs a total investment of about VND 10 trillion (400 million USD).

Mr. Do Hoang Viet – Deputy General Director of Tan Hoang Minh Group (in the middle) received the memorandum of understanding for investment of the Outlet Zone project in Dong Anh District.

Endowed with a great tourism potential derived from the cultural – historical treasure and unique landscapes, Hanoi is an appealing tourist destination which receives ever increasing total number of domestic and international tourists. However, the city’s tourism infrastructure is not synchronous, lacks new tourism products and services that make the city more attractive. In those countries with advanced tourism industry, shopping at OUTLETS is seen as an indispensable part to satisfy the tourists’ shopping needs. By far Hanoi has yet to build any OUTLET zones of adequate scale and quality to serve the needs of tourists and local people. That is why Tan Hoang Minh Group imbues its high expectations into the OUTLET Zone project as a new driver for Hanoi’s tourism growth in particular and Vietnam tourism in general, thereby boosting the general socio-economic prosperity.

The “Hanoi 2020 – Investment and Development Cooperation” conference is an opportunity for the Government, enterprises and investors to unite, exchange and propose solutions to draw more investment cooperation projects into Hanoi, in order to promote the rapid and sustainable development of the Capital as well as the whole country in the coming time. By attending this conference, Tan Hoang Minh Group affirmed its desire to join a hand in the economic revival and thriving in the wake of epidemic. The works of Tan Hoang Minh Group have been and are bringing Hanoi a more well-formed appearance, and improving the life quality for Vietnamese people.