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International relations

Vietnam smart town draws Japan Inc.'s big names

Sumitomo-led consortium's $37bn plan covers self-driving buses and cherry trees

Vietnam's new smart town will be built on 310 hectares near Hanoi.

HANOI -- Japan's government and more than 20 companies are teaming up to construct a smart town in Vietnam by 2023, featuring self-driving buses and a host of energy-saving technology.

General trader Sumitomo Corp., machinery maker Mitsubishi Heavy Industries and subway operator Tokyo Metro are among the businesses on board. Valued at nearly 4 trillion yen ($37.3 billion), this stands to be the largest Japan-led overseas project to date, according to officials of the Japanese companies involved.

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