Deutsche Investitions - Und Entwicklungsgesellscheft Mbh (DEG) will sponsor US$20 million in the Azerai Can Tho Resort, one of the first projects of the NovaWorld Mekong leisure and tourism complexes that Novaland Group will develop in the Mekong Delta region.

The signing ceremony between the two companies took placein HCM City on Thursday.

At the same time, DEG also signed a Memorandum of Understanding on the provision of travel quality standard consulting services for the NovaWorld brand.

Under the agreement, experts from DEG will provide business support services to Novaland, including facilitating expert advice for training professional human resources and orienting tosustainable hotel management standards.

They will also provide consultation onenvironmental issues and use ofavailable resources in parallel with ecological development so thatthe chain of NovaWorld complexes, such as NovaWorld Mekong, NovaWorld Phan Thiet and NovaWorld Ho Tram, will become destinations for domestic and foreign tourists.

Bui Xuan Huy, general director of Novaland Group, said: “We look forward to strengthening the co-operation with professional consultants to be able to develop NovaWorld Mekong in a sustainable way, contributing to both local tourism development and creating new jobs, helping to keep workers from leaving their fields and bringing high-level personnel to the Mekong Delta."

Overthe last 25 years, Novaland has becoe a leading prestigious real estate developer in Viet Nam, with more than40 diverse projects providing outstanding products to meet the increasing demand of customers, such as: townhouses, villas, shophouses, condominiums and 24/7 offices with a large land bank in key locations in HCM City and neighboring provinces, and over five hospitality-real estate projects in large cities and provinces.

According to its development strategy from 2019 to 2023, Novaland will implement phase two, focusing on core businesses in the middle – high segment. The accumulated and underdevelopedland bank of Novaland covers about 4,300ha for three key product lines, includinghousing projects in HCM City; satellite townships in Dong Nai Province; and tourism development projects of international standardsin cities with great tourism potential.

DEG is a 100 per cent-owned subsidiary of KFW, the largest state-owned bank of the Government of the Federal Republic of Germany, with a history of over 55 years. DEG specialises in providing finance, advice and support to private businesses operating in developing countries and emerging markets, funding private sector projects that make a positive contribution to sustainable growth and improve living conditions of local people. — VNS