DEG financing to develop NovaWorld Mekong project

At the signing ceremony (Photo: Novaland)

HCM City (VNA) - Novaland Group has signed a partnership agreement with Deutsche Investitions - Und Entwicklungsgesellscheft Mbh (DEG), a reconstruction bank based in Germany and specializing in funding and consulting projects that promote business initiative of improving social living conditions.

Accordingly, DEG sponsors 20 million USD to develop Azerai Can Tho Resort (Au Island, Can Tho) - is one of initiative projects of NovaWorld Mekong leisure and tourism complexes that Novaland Group will develop in the Mekong Delta region. At the same time, DEG also signed a Memorandum of Understanding on the provision of travel quality standard consulting services for the NovaWorld brand.

Experts from DEG will provide Business Support Services to Novaland, such as facilitating expert advice for training professional human resources and orienting the sustainable hotel management standards; while also consulting on environmental issues and effectively exploiting available resources in parallel with ecological development so that the chain of NovaWorld complexes, such as NovaWorld Mekong, NovaWorld Phan Thiet and NovaWorld Ho Tram, will become the destinations for domestic and foreign tourists.

In the Mekong Delta, Novaland and the Military Commercial Joint Stock Bank have jointly contributed funds for the Boston Consulting Group (BCG) – a leading global consulting firm - to develop a Tourism Development Strategy for the 13 provinces in the region to adapt to climate change in accordance with the Prime Minister’s Resolution 120/NQ-CP. Accordingly, by 2030, the Mekong Delta will be the top river destination in Asia, creating 300,000 new jobs.

Based on BCG's strategy, Novaland is planning and implementing the NovaWorld Mekong project in the center of Can Tho City. This is a synchronous large-scale project of international standards that will change the perception of tourism in the Mekong Delta, boosting tourism combined with agriculture and traditional activities, making the Mekong a tourism destination of the world. Phase 1 of NovaWorld Mekong – the Azerai Can Tho Resort - was completed and put into operation in June 2018.

While announcing the partnership between DEG and Novaland, Bui Xuan Huy, General Director of Novaland Group, said: “We look forward to strengthening the cooperation with professional consultants to be able to develop NovaWorld Mekong. in a sustainable way, contributing to both local tourism development and creating new jobs, helping to keep workers from leaving their fields and bringing high-level personnel to the Mekong Delta."

“I am impressed by the vision of the Novaland to think a sustainable way – Can Tho has a unique and diverse bio system that needs to be protected. The photo voltaic energy supply and the waste and water treatment systems are exemplary” – Dr. Hubertus Pleister – Head of Asia.

Previously, on July 7, 2017, DEG financial institution and two members of Nova Group, Anova Corporation and Novaland Group, signed a Memorandum of Understanding within the framework of the Vietnam-Germany Business Forum program, a trade promotion activity on the sidelines of the G20 Summit in Berlin, Germany. This marks the long-term co-operation between two large corporations, aiming to help to improve the quality of life in Vietnam on the basis of sustainable development and compliance with international standards of corporate governance, social responsibility, and environmental protection./.