HO CHI MINH CITY, VIETNAM –
Media OutReach – 14 April 2022 – CMIA Capital Partners has signed a Memorandum of Understanding (MOU) with Ho Chi Minh City on the development of a 1,018 hectare mixed-use township in the Trung An Commune of Cu Chi District, Ho Chi Minh City.
Ms Nina Yang, CEO of Surbana Jurong – SJ CityGlobal (centre left), and Mr Lee Chong Min, Chairman of CMIA Capital Partners (centre) receiving the signed Memorandum of Understanding from Ms Pham Thi Thanh Hien, Chairwoman of the Ho Chi Minh City, Cu Chi District People’s Committee (centre right). His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam witnessed the MOU signing ceremony.
Ho Chi Minh City Agri Food-Tech Eco Township will be a new integrated regional urban centre for Ho Chi Min City. The township will have an industry focus in food science and technology, including food processing and manufacturing, product development, quality assurance and quality control, research, and regulation. The value of the project is estimated at US$ 1.1 billion. CMIA Capital Partners would lead the investment in, and Surbana Jurong would be the development manager of, the project.
CMIA Capital Partners is a private equity firm headquartered in Singapore. CMIA Capital Partners has a 20-year track record of investing in Asia.
Surbana Jurong is a consultancy company focusing on infrastructure and urban development. Surbana Jurong is a wholly owned subsidiary of Temasek Holdings.
The MOU was signed at the Conference on Investment Promotion in Cu Chi District and Hoc Mon District 2022. His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam, chaired the conference and witnessed the signing of the MOU.
Speaking at the Conference, Mr Lee Chong Min, Chairman of CMIA Capital Partners said: “Vietnam has a strong and resilient economy and has been welcoming of foreign direct investments. To date, we have met His Excellency Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam; Mr Nguyen Van Nen, Ho Chi Minh City Party Secretary; Mr Phan Van Mai, Chairman of Ho Chi Minh City People’s Committee; as well as many other leaders of Ho Chi Minh City on the project. We appreciate the support given to the Ho Chi Minh City Agri Food-Tech Eco Township project. We thank the leadership for providing the most favourable of conditions for our investment in this project in the Cu Chi District of Ho Chi Minh City”.
Ms Nina Yang, CEO of Surbana Jurong – SJ CityGlobal, the development management arm of Surbana Jurong, said: “Surbana Jurong is able to harness our unique experience and expertise in master development to plan, design and implement large scale urbanisation projects. Some of these projects include the New Clark City in The Philippines, Microsoft ZiZhu Campus in Shanghai, Heart of Bay Project in Shenzhen and the G4 City, adjoining Almaty City of Kazakhstan. We’re excited about partnering with CMIA Capital Partners to build a township and industrial park that enhance liveability and economic growth in Ho Chi Minh City.”
As a megacity, Ho Chi Minh City embraces decentralized urbanisation to provide for long-term economic growth and prosperity. Conceptually, each regional urban centre will have an industry focus. This will provide for productivity gains through economies of scale, enhanced innovation from a concentration of skills and talents and resource optimisation.
The Ho Chi Minh City Agri Food-Tech Eco Township will be a new integrated regional urban centre for Ho Chi Minh City. The township will be home to 100,000 residents, have a 200-hectare food science and technology industrial park and contain a myriad of recreational spaces and amenities. Residents will be able to live, work and play, all within the township.
The township is expected to generate revenues of about 2 billion dollars annually and create stable jobs for more than 20,000 employees. The township will uplift the region’s GDP per Capita towards the US$8,500 by 2025 target set by the Ho Chi Minh City People’s Committee.