Representatives from Viet Nam's BRG Group and Japan's Sumitomo Corporation on Tuesday met with the key Da Nang leaders to implement a memorandum of understanding on mutual cooperation among the duo and the municipal People's Committee in the development of urban infrastructure projects in the city in the coming time.

The meeting between leaders of Da Nang and representatives of BRG Group and Sumitomo Corporation is in progress, December 21, 2021. Photo: TRIEU TUNG

Present at the reception for the entrepreneurs were Da Nang Party Committee Secretary Nguyen Van Quang, municipal People's Committee Chairman Le Trung Chinh, municipal People's Committee Vice Chairman Le Quang Nam and officials from relevant local agencies.

Addressing the meeting, the Da Nang leaders briefed BRG and Sumitomo representatives on the city’s development planning orientations, related legal procedures, investment incentives and support policies for urban infrastructure development projects in which the city is focusing on calling for investment flows from both home and abroad.

Chairman Chinh said that the development cooperation between BRG and Sumitomo has been quite successful over recent years. The city's leaders have created all favourable conditions for the two groups to continue to join efforts by proposing ideas contributing to the city’s progress.

Da Nang People's Committee Chairman Le Trung Chinh addressing the meeting. Photo: TRIEU TUNG

According to Madame Nguyen Thi Nga, Chairwoman of BRG Group, this banking-real estate-golf group and Sumitomo have formed an urban development investment joint venture with an investment capital of US$4.2 billion and are aiming to cooperate in the development of infrastructure at stadiums, airports, seaports and logistics centres.

According to the leaders of the two groups, Da Nang is a city showing off great potential for investment.

Chairman cum General Director of Sumitomo Viet Nam Koichi Taniguchi affirmed that the Japanese Government has always highly appreciated the importance of Da Nang, so it has advocated upgrading the existing Japanese Consular Office in Da Nang into the Japanese Consulate General in January, 2022.

With global experience and capacity, Sumitomo is determined to contribute to the city's development on the basis of realizing the contents signed between the Da Nang People's Committee, Sumitomo Corporation and BRG.

Within the framework of their stay in Da Nang for work, the leaders of BRG and Sumitomo together with Da Nang counterparts made field trips to the Da Nang International Airport, the Lien Chieu port planning area, the Da Nang Hi-Tech Park and the planned location for the development of logistics centre.

The city’s Investment Promotion Agency (IPA) said BRG and Sumitomo said they would strengthen logistics networks and the air and sea connections, to improve Da Nang’s resiliency and enhance economic growth.

Madame Nguyen Thi Nga, Chairwoman of BRG Group speaking at the meeting. Photo: TRIEU TUNG

Chairman cum General Director of Sumitomo Viet Nam Koichi Taniguchi address the meeting. Photo: TRIEU TUNG

Reporting by TRIEU TUNG – Translating by A.THU