Giant real estate developer NovaGroup last week signed an agreement with the Mekong Delta provinces of An Giang and Dong Thap to develop Mekong Smart City.

Located in Tan Chau and Hong Ngu towns of An Giang and Dong Thap provinces, the Mekong Delta will connect investors and local authorties and therefore boost the economy development in Mekong Delta region.

Targeted as a tourist destination, Mekong Smart City will push the development of the two provinces and the whole region in general.

Mekong Smart City will also play a key role in creating a new model urban area in Viet Nam.

Tan Chau Town in An Giang and Hong Ngu District in Dong Thap’s Hong Ngu City are situated in the upstream portion of the Mekong River and serve as a gateway for trade with Cambodia.

The area, which has undergone a long period of development, is the key tourism place in the Mekong Delta.

In recent years the Government has focused on developing infrastructure in the region and generally prioritised it.

But to develop further, it needs more incentives to attract domestic and foreign investment, and so co-operation between the Government, provinces and enterprises is likely to provide the push it needs.

Mekong Smart City to be developed by NovaGroup will create an ecosytem of real estate, tourism and services in An Giang and Dong Thap provinces.

The Mekong first large hospitality project, it is expected to bring together investors and authorities and stimulate the local economy.

Mekong Smart City’s huge prospects

The Mekong Smart City project will include 11 components, namely the 115ha Rong Xanh (Blue Dragon) urban area, Mekong Logistics Centre, 5,000-10,000ha Mekong special economic zone, the Mekong Village complex of resort and villa areas designed for experts and managers of the special economic zone, the 1,000ha Mekong Industry Zone in Hong Ngu City, Mekong Agro Centre for organic agriculture, Mekong Airport and the 2,000ha AI industrial zone

In the first phase NovaGroup will bid to buy land to develop Rong Xanh, Bui Thanh Thuy craft village and Chinh Sach Island at a cost of over $2 billion.

Profits from the Rong Xanh project will be used to build hospitals and schools in Dong Thap, the company has said.

In An Giang it will build a non-profit international university.

The Las Vegas project on an area of 250ha will be developed on Chinh Sach Island.

When it is put into operation, Hong Ngu District is expected to become a popular tourism destination.

The profits from Las Vegas will be used to build schools and hospitals in An Giang.

Speaking at the agreement signing ceremony, Nguyen Thanh Binh, chairman of An Giang Province, said, “Despite being severely affected by the COVID-19 pandemic, the province has been now the green zone and we are ready to welcome investors.

“Mekong Smart City is a strategic development to exploit the potential of An Giang Province and other Mekong upstream provinces.

“The province will assist sectors and departments to support investors including the one developing a complex of six projects in Tan Chau Town.”

Dong Thap chairman Pham Thien Nghia said his province, with its slogan of ‘Our potential-Our opportunity’, always welcomes investors.

Dong Thap has an international border and convenient transportation which create excellent conditions for trade and other economic activities like agriculture and tourism.

“We focus on improving the investment environment, assisting investors and seeking strategic investors.

“Mekong Smart City developed by NovaGroup dovetails with our development strategy. This is a prestigious investor with the capacity to develop large-scale hopsitality projects.”

NovaGroup also signed an agreement with the Ha Noi Medical University Hospital to develop a non-profit international hospital with 300-500 beds at the Rong Xanh Urban Area, and with the Michael Dukakis Institute of the U.S. to build a non-profit international university in Tan Chau Town in Anh Giang Province. The university will benefit students especially from the Mekong Delta.