Hanoi on Saturday launched a smart city project designed to cover some 272 hectares of land and require an estimated investment of US$4.2 billion.
The project, developed by a consortium of Vietnam's BRG Group and Japan's Sumitomo Corporation, is expected to become a modern city with leading facilities in Asia.
Speaking at the project launching ceremony, vice-chairman of the Hanoi People’s Committee Duong Duc Tuan said the smart city project in northern Hanoi will apply smart energy, transport modes, lifestyle, management, healthcare and education services, and economy.
The highlight of the project is a 108-story financial skyscraper designed by Vietnamese and Japanese firms, Tuan informed.
The project is meant to help solve major urban infrastructural issues regarding traffic, energy, education, healthcare, and environment.
It will be executed in five phases which will last until the last quarter of 2032.
A representative of the investor said the smart city project, when completed, will accommodate over 20,000 residents.