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A joint venture between Lotte Group, Mitsubishi Corporation, Mitsubishi Estate, and Toshiba Corporation will begin development soon in the south of Vietnam.
The Ho Chi Minh City People's Committee has announced the arrival of the $2.2 billion Eco Smart City project in Thu Thiem, Vietnam with the hopes of transforming the district into a fast-growing metropolis.
The 10-hectare site located along the Saigon River at Ho Chi Minh City’s Thu Thiem District 2 is planned to become a finance and business district with iconic architecture, centers of commerce, residential condominium developments, and hotels to encourage tourism in the area. The city is also set to provide two speeds of free wifi access to tourists and residents alike, a regular speed for general areas and high speed for tourism hotspots. A Singaporean firm has agreed to fund the city-wide wifi as Vietnam ranks 18th in the world in internet usage and the free wifi will help to satisfy the high demand for internet in the region.
Work on the project will begin in July of 2016, with a ground breaking ceremony set for September 2nd, 2016, on the country's 70th anniversary of independence.
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