The project is to improve urban quality within the southern province of Binh Duong in particular and in Vietnam in general.

Both sides will set up a joint venture to develop a new modern urban and service center of international standards following the signing ceremony of the memorandum of understanding (MOU). Located in Binh Duong New City, the scheme is invested by Becamex as the project owner.

Under the MOU, the two sides agreed to establish a research and development (R&D) group responsible for sounding out cooperation and investment opportunities in Vietnam.

The local company will help the R&D team to collect information on the locality’s development as well as that in other regions. Furthermore, Binh Duong Province-based firm will work with local related agencies on behalf of the group as well.

Based on Tokyu Corporation’s support, the group can learn experiences of project management, operation and development. Also, the Japanese partner plans to lure other Japanese investors for an effective cooperation between the two sides.

The Japanese partner is active in numerous sectors, such as electric railway, urban development, logistics, supermarkets and hotels. Meanwhile, as a multi-industry group, Becamex has succeeded in investment and construction of residential and transport infrastructure projects besides finance, insurance and banking industries.