Chairman of the HCM City People’s Committee Nguyen Thanh Phong meets with Lotte Chairman Shin Dong-bin on December 5.(Photo: VNA)

HCM City (VNA) – Ho Chi Minh City and Lotte Group of the Republic of Korea have agreed to strengthen their collaboration in infrastructure development.

Meeting with Lotte Chairman Shin Dong-bin on December 5, Chairman of the municipal People’s Committee Nguyen Thanh Phong spoke highly of the group’s interest in socio-economic development programmes in the city. He hoped that Lotte would further engage in projects on local infrastructure and smart cities.

He lauded the efficiency of projects developed by Lotte, and the group’s plans to invest in the city’s prioritised fields like chemicals and food processing.

On the Eco Smart City project in Thu Thiem district, Phong said that the group should enhance coordination with authorities to keep updated and to outline a plan to implement the project.

“Ho Chi Minh City is interested in the project and hopes that construction will begin soon”, he said.

For his part, Shin said Lotte is making meticulous preparation for the 1-billion USD eco smart city as it is one of the group’s key projects.

Environmentally friendly advanced technologies will be used for the city. The project is expected to improve the livelihoods of local people, he added.

Alongside traditional sectors such as trade, Lotte is expanding its business into chemicals, infrastructure construction and the development of technologies. Over the years, Lotte and HCM City have carried out various cooperative progammes in scientific research, medical technology and human resources training.

Lotte has pledged support for innovation and startups in the city and wishes to receive further assistance from local authorities and residents.-VNA