Mar 06, 2018 / 18:44

Hanoi considers several major projects

Hanoi authorities will have to make major decisions this March, including the upgrade of some rural districts to urban ones.

Hanoi’s Department of Interior discussed on March 6 with City leaders a scheme to upgrade Hoai Duc rural district into an urban district by 2020.
Currently, Hanoi is divided into 12 urban districts, 1 district-level town and 17 rural districts as of the end of 2017. With an area of 3328.9 square kilometers, the city posted GDP per capita of 7.3% last year, according to Hanoi’s Statistics Bureau.
Hanoi Mayor Nguyen Duc Chung chaired the meeting yesterday
Hanoi Mayor Nguyen Duc Chung chaired the meeting yesterday

Once the proposal is finalized, land prices in Hoai Duc district are expected to skyrocket in the couple of years, according to market observers. Hoai Duc is among priority markets of Hanoi by 2015-2016, with strategic location connecting other interprovincial highways. Analysts believe the district upgrade would activate a series of real estate projects to the west of the city.
The Japanese conglomerate Sumitomo pushed Hanoi authorities to decide on the smart town in Dong Anh district, a project costing more than US$4 billion. The Japanese 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, Nikkei said last week.
Also at the meeting with City leaders, Hanoi’s Department of Finance reported on balancing investment sources for the city metro lines by 2025. As part of the city’s master plan for 2030 and vision to 2050, Hanoi will build ten urban railway lines with a combined length of 417.8km. At present, there are two metro lines under construction while three others have been put forward for private investment in 2016 so that they can be completed by 2025.
Hanoi Mayor Nguyen Duc Chung said the city would submit a report to the Government on the metro line projects at the upcoming National Assembly meeting.
The meeting ended with Hanoi leaders voting for approval of seven investment portfolios for the city’s projects.