Ho Chi Minh City (VNA) – Vingroup on April 29 officially broke ground on the international university urban area project in Xuan Thoi Son commune, Ho Chi Minh City, covering 880 hectares with a total investment of 59 trillion VND (2.23 billion USD).

The project enjoys strong transport connectivity, linking directly with the southern key economic region through National Highway 22, Ring Road No. 3, and the Ho Chi Minh City–Moc Bai expressway. It is planned as a large-scale centre for education, research and innovation, aimed at attracting high-quality human resources to support the region’s economic restructuring.

According to Le Khac Hiep, Vice Chairman of Vingroup, the urban area is being developed as a new landmark for Vingroup and its the real estate arm Vinhomes in the northwestern area of Ho Chi Minh City.

He said the project is expected to contribute to promoting science and technology development, innovation and digital transformation, in line with the Poliburo’s Resolution No. 57-NQ/TW.

In terms of amenities, the urban area will feature a large and comprehensive education and knowledge ecosystem covering more than 150 hectares, along with hospitals, shopping centres, and a chain of entertainment, dining and leisure facilities.

Notably, it will also include a network of 100 parks spread throughout the development.

Speaking at the groundbreaking ceremony, Tran Van Bay, Vice Chairman of the municipal People’s Committee, stressed that within the city’s overall urban development strategy, the northwestern area plays a particularly important role.

He said the project would help shape urban development linked to education and research, with a projected student and learner population of more than 200,000 people.

According to him, the allocation of more than 183 hectares specifically for education, training and research facilities clearly demonstrates its core orientation of becoming an internationally recognised knowledge and technology urban area.

Vingroup also noted that alongside project development, the investor is introducing pioneering sales policies, particularly an interest rate support policy of 0–6% per year for five years./.