During a working session in Hanoi on December 10 with President and CEO of Japan’s Sumitomo Corporation Masayuki Hyodo, Chung lauded Sumitomo and the CEO himself for investing in major projects and introducing other firms to invest in the city.

He said Hanoi always takes the lead nationwide in terms of foreign direct investment attraction with an estimated value of over USD 10 billion this year, raising the total investment it has attracted so far to USD 42 billion.

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At the working session

The host said Sumitomo’s building of a smart city in the north of Hanoi will help ease pressure on the inner city. The city will cost over USD 4.1 billion and will cover 271.45ha in Vinh Ngoc and Hai Boi communes, the outlying district of Dong Anh.

Chung said the city has directed local authorities and agencies to step up site clearance and offer assistance to the investor.

Hyodo, for his part, said Sumitomo will do its best to complete the project as scheduled.

As Sumitomo will celebrate its 100th founding anniversary this month, he expressed hope that it will further grow and invest more in Vietnam and Hanoi in particular.

Source: VNA