NovaGroup on Wednesday signed a memorandum of understanding with Cambodia’s Sokimex Investment Group to develop the Blue Dragon project, an urban area that covers 115ha in Hong Ngu District of the Mekong Delta province of Dong Thap.

According to the agreement, Sokimex Investment Group and NovaGroup will contribute capital and will co-operate in implementing and completing the necessary procedures in accordance with the Vietnamese and Cambodian laws to conduct an auction of land use rights to develop the project.

The Blue Dragon project is expected to complete legal requirements in the first quarter of 2023 and start construction in the second quarter of 2023.

In addition, NovaGroup will give consultancy to develop the 5,000-ha BoKor City in Kampot Province of Cambodia. Bokor City is invested by Sokha Hotel.Co Ltd, a member company of Sokimex.

Blue Dragon is one part of the Mekong Smart project which includes many urban areas, industrial zones, processing plants, AI industrial zones, a trade centre, a food and beverage centre, a hospital, schools and entertainment centres. The project is on the border of An Giang and Dong Thap provinces.

The project has a strategic and convenient location for trading among the 13 provinces of the Mekong Delta. When the project is completed, it will promote the socio-economic development of the Mekong Delta in the direction of industrialisation and modernisation.

Blue Dragon will have housing, including town houses with the full amenities of a hotel, a 1000-seat wedding centre, retail and wholesale markets, food and beverage centre, theatre, hospitals and schools.

The Mekong Smart City project aims at becoming a regional tourism centre and logistics centre. — VNS