Japan’s Tokyu Corporation and Becamex IDC Corporation on Wednesday clinched a cooperation memorandum on traffic system development in Binh Duong, after the two sides had got licensed to develop an urban area in the province.
Takahashi Toshiyuki, executive officer of Tokyu Corporation, said the memorandum was aimed at developing a modern bus transit system and possibly a rail line connected to the inter-provincial transport system between Binh Duong and other areas in the Southern Key Economic Zone.
According to Toshiyuki, Binh Duong has a strategic position as a center of the Southern Key Economic Zone, with an annual GDP growth of 14-15%, far exceeding the nation’s average level. Despite a population of 1.6 million over the total of 24 million residents in the southern region, the public transport infrastructure there is still full of shortcomings.
“From now onwards, drawing experience from the development of the urban area Tokyu Tama Denen near Tokyo, Japan, we and Becamex IDC will conduct survey and map out plan for inter-provincial transport system connecting Binh Duong and other areas in the Southern Key Economic Zone, with a focus on a modern bus transit system and a possibility to develop a railway route in the future,” said Toshiyuki.
The 6,000ha Tokyu Tama Denen urban area near Tokyo is now home to 600,000 people and viewed as one of the most favourite areas for living in Japan. With a highly flexible traffic system, the urban area has a high transport efficiency.
Earlier, the Japanese corporation had formed a joint venture with Becamex IDC to start work on Tokyu Binh Duong Garden City, covering over 71 hectares in Binh Duong New City. The project worth some VND25 trillion is sponsored by Japan’s Bank of Tokyo Mitsubishi UFJ.