Hoa Lac rolls out red carpet for Japanese

A business group of around  20 enterprises, led by Japanese Conference for Overseas Development of Eco-cities (J-CODE), last week visited Hanoi to meet with Hanoi People’s Committee to discuss choosing a site for the project.

Bui Manh Tien, deputy director of Hanoi Architecture and Zoning Department, highlighted Hoa Lac Urban Area, Phuc Tho and Quoc Oai Eco Towns for consideration. In Hoa Lac Urban Area, Tien said Japanese developers could invest in two options  -  a 1,200 hectare area or a 600ha site.

“Hoa Lac urban area is 30 kilometres from Hanoi and will be built into a scientific, technological and training urban area. This would be very suitable for Japanese investors,” Tien said.

In this area the Hanoi People’s Committee has approved 45 projects. “However, only some of them kicked-off and there are opportunities for Japanese developers,” Tien said. He said Japanese companies could cooperate with existing domestic developers to develop their projects, or seeking a new project in that area.

Kenzo Tomita, J-CODE leader and deputy director of City Bureau, Ministry of Land, Infrastructure, Transport and Tourism of Japan, told VIR that Japanese enterprises paid much attention to Lang-Hoa Lac Urban Area and the Quoc Oai eco town, since these two areas were located along the future railway No.5, to be built with Japanese enterprises.

Railway No.5 links the West lake of Hanoi to Lang-Hoa Lac, covering 41km with nine stations. The Japanese International Cooperation Agency plans to submit the mid-term report for this project next month.

In Quoc Oai town, Tien said, Japanese companies could cooperate with existing domestic developers to co-invest in their projects. Apart from Hoa Lac and Quoc Oai, Japanese developers also paid attention to infrastructure and real estate investment opportunities.

Eco-city is still a new concept in Vietnam and the model started in Vietnam with the Ecopark in Hung Yen province, Ecolakes My Phuoc in Binh Duong province and Diamond Island in Ho Chi Minh City.

Apart from Hanoi, Japanese developers have showed interest in Binh Duong New City in Binh Duong province and Ho Chi Minh City. A memorandum of understanding on developing eco-cities in Vietnam was signed March this year between Vietnam and the Japanese government.

According to the proposal from Japan’s Ministry of Land, Infrastructure, Transport and Tourism, the concept of building eco-cities in Vietnam concept was about promoting sustainable environmentally-friendly economic growth.

J-CODE is a body aims to offer packages of environmentally friendly technologies and services. It has been joined by 51 businesses from a wide range of industries, including construction, real estate, finance, energy, electricity and machinery.

J-CODE introduces Japanese technologies and environmental standards for urban development, offer proposals, and as a multi-industry team work with local authorities to help promote sustainable planning and development of cities.