Infrastructure Development

The Ring Road 1 Project is now three years behind as it was scheduled to become operational in 2020.

In recent years, Hanoi has taken effective measures to overcome challenges and accomplish strong socioeconomic growth.

Prime Minister Pham Minh Chinh asked the ministries to quickly resolve the relevant issues to keep the ring road project moving forward as planned.

Total investment capital for railway development until 2030 is estimated at VND230 trillion (US$10.5 billion).

The financing mechanism under the private-public partnership (PPP) model would be essential to realize this goal.

The effective realization of the five-year public investment plan stays central in further improving Vietnam’s socio-economic development in short-, medium- and long-term, Prime Minister Pham Minh Chinh has said.

Once completed, the ring road No.4 would help connect 14 districts from three northern cities/provinces of Hanoi, Hung Yen and Bac Ninh with a total length of 98 kilometers.

This is the first project since the public-private partnership (PPP) law came into force last June.

Domestic capital market alone would would not be able to meet huge demand for Vietnam’s infrastructure upgrade.

The auctioning of land use rights in Hanoi is to ensure efficient utilization of land funds and meet the growing demand for lands of the people and enterprises.