Japanese breathe life into eco-city projects

Ecopark is one of the first eco townships in Vietnam

Deputy minister of construction Nguyen Tran Nam, speaking at the Vietnam-Japan Investment Co-operation conference last week in Hanoi, stated that the two sides had the potential for greater co-operation on the issue.

“Particularly, we should expand our co-operation in housing, urban development and eco-city development,” Nam said.

According to Suzuki Hideo, Japan’s minister-counsellor to Vietnam, one of the most important factors in promoting Japanese investment in construction and real estate was improving policies which presently hinder foreign direct investors.

“I can cite the examples of the tightening of regulations permitting foreigners to buy property and land in Vietnam, or the right of foreigners to re-lease their properties. Those issues were discussed in summer last year at the Vietnam–Japan Joint Initiative Phase 5 conference, and we hope we will make headway on this issue in the near future,” said Hideo.

Phung Quang Hung, chairman of Vinh Phuc province said that with the province’s large quantities of land and clean environment would make Vinh Phuc a suitable for real estate projects, especially those of housing development and eco-cities.

Meanwhile Nguyen Van Suu, deputy chairman of the Hanoi People’s Committee said that in the future, the city will aim to develop five satellite urban development areas in Xuan Mai, Phu Xuyen, Soc Son, Son Tay and Hoa Lac. All five satellite city projects are presently seeking Japanese investors.

In addition, the Nhat Tan to Noi Bai expressway, presently under construction, will present new opportunities for a range of urban development projects with the potential to attract Japanese investors.

The issue of developing eco-cities in Vietnam has long been a topic of discussion between the Japanese and Vietnamese governments and companies.

Last year, a group of Japanese private developers came to Hanoi seeking opportunities to co-develop eco-cities. Led by the Japanese Conference for Overseas Development of Eco-cities (J-CODE), a group of 20 companies met with the Hanoi People’s Committee to discuss possible sites for future eco-city projects.