Hanoi metro projects a thorn in the flesh

After enormous public outcry over record-high extra costs and record-long delays, Hanoi’s first metro line, Cat Linh-Ha Dong, finally entered operation, thank God.
Now, similar public resentment is brewing over the city’s second metro project, Nhon-Hanoi Station.
Groundbreaking for this route occurred in September 2010. At the time, authorities said it was scheduled for completion in 2016 with a total investment of over VND18,400 billion ($793 million).
Over time, after approved adjustments to investment expenditures in 2016, 2017 and 2018, expenses had soared to over $1.29 billion.
Now, Hanoi Urban Railway Management Board is proposing to have the figure raised to $1.49 billion, almost double the initial estimated cost. It is also seeking permission to delay completion to 2029, 13 years behind the initial timeline.
How much more will expenses increase and schedules derail?
The latest proposal has again disappointed many Hanoians, especially since construction has affected the backbone road from central Hanoi to outlying districts.
According to the management board, equipment contracts have seen both implementation time and costs extended due to the Covid-19 pandemic, which delayed and disrupted manufacturing and importing of equipment and prevented the travel of specialists from Europe. Other problems include site clearance and disputes with international contractors due to delays.
But the public is tired of the same old explanations.
Under its plan, Hanoi would have nine urban railway lines, which would make up a 318-kilometer railway network by 2050.
But the above-mentioned two projects are bad precedents. Someone must surely take responsibility for this mess. Transparency is vital to avoid similar problems from reoccurring in future as the country gears up to modernize its urban transport systems.
- Read More
Vietnam’s major affordable housing developer Hoang Quan appoints new CEO
Hoang Quan Real Estate Consulting-Trading-Services JSC (HoSE: HQC), a major affordable housing developer in Vietnam, has appointed Nguyen Long Trieu as its new general director, effective from Monday.
Real Estate - Tue, June 10, 2025 | 4:00 pm GMT+7
US Cargill announces exit from aquafeed business in Vietnam
Cargill, one of the leading animal feed producers in the U.S., has withdrawn from the aquafeed business in Vietnam, said Maxime Hilbert, interim general manager for aqua nutrition at Cargill Thailand & Vietnam.
Industries - Tue, June 10, 2025 | 3:26 pm GMT+7
USD price likely to hit record high of VND26,300 in Q3, drop to VND26,100 in Q4: UOB
Singaporean bank UOB on Monday said its updated forecasts on the USD/VND exchange rate are VND26,300 per USD in Q3/2025; 26,100 in Q4/2025; 25,900 in Q1/2026; and 25,700 in Q2/2026.
Economy - Tue, June 10, 2025 | 2:38 pm GMT+7
Four pillars set stage for Vietnam private sector breakthrough: expert
The four resolutions recently issued by the Politburo, Vietnam's highest decision-making body, mark a critical turning point, opening up major opportunities for Vietnam’s private sector to thrive, said Tran Du Lich, former director of the Ho Chi Minh City Institute of Economics.
Economy - Tue, June 10, 2025 | 12:37 pm GMT+7
How Vietnam’s functional food market evolves
With the presence of major domestic and international brands, along with strong government efforts to dismantle counterfeit product rings, Vietnam's functional food market is expected to continue its upward trajectory in the coming time.
Economy - Tue, June 10, 2025 | 12:18 pm GMT+7
Visa introduces Click to Pay in Vietnam for online shopping experience 'transformation'
Visa has introduced Click to Pay with leading banks and payment facilitators in Vietnam - the first market in Southeast Asia to see the solution that aims to transform online shopping experience.
Finance - Tue, June 10, 2025 | 8:48 am GMT+7
Vietnamese banks leverage national data integration to reach customers
Banks in Vietnam are developing fully digital lending services, enabling customers to apply for and receive loans entirely through online platforms.
Banking - Mon, June 9, 2025 | 11:28 pm GMT+7
Vietnam’s garment-textile exports top $17 bln in five months
Vietnam’s garment and textile exports exceeded $17.58 billion in the first five months of 2025, up 9% year-on-year.
Companies - Mon, June 9, 2025 | 11:21 pm GMT+7
Vietnam's coastal hospitality real estate poised for a new wave of growth
As competition intensifies and the tourism sector rapidly evolves post-pandemic, hospitality real estate investors and hotel operators are adopting more innovative approaches to optimize operations and tap into new revenue streams, write Avison Young Vietnam analysts.
Consulting - Mon, June 9, 2025 | 11:01 pm GMT+7
Rules on private placement bond issuance should be tightened: Vietnam Finance Minister
Allowing only companies that have liabilities five times higher than their equity at maximum to issue bonds via private placement is a necessary move to mitigate risks and prevent abuse, said Finance Minister Nguyen Van Thang.
Finance - Mon, June 9, 2025 | 6:19 pm GMT+7
EV maker VinFast commits to purchasing all output for Vietnamese suppliers
Vietnamese electric vehicle maker VinFast has committed to purchasing all products for domestic suppliers that join its production chain.
Companies - Mon, June 9, 2025 | 5:21 pm GMT+7
Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project
The official launch of the La Pura project by Phat Dat Real Estate Development Corp on Sunday in the southern province of Binh Duong made a significant impact, with over 95% of the total inventory in the Zenia sub-zone successfully transacted.
Real Estate - Mon, June 9, 2025 | 4:07 pm GMT+7
Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks
Minister of Public Security Luong Tam Quang called on South Korean tech giant Samsung to strengthen its partnership with his ministry in developing Vietnam’s security industry.
Investing - Mon, June 9, 2025 | 3:13 pm GMT+7
Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure
Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.
Companies - Mon, June 9, 2025 | 11:48 am GMT+7
Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May
Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.
Finance - Mon, June 9, 2025 | 11:43 am GMT+7
Fund manager Eastspring Vietnam appoints new CEO
Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.
Finance - Mon, June 9, 2025 | 9:03 am GMT+7
- Infographics
-
Vietnam PM urges world's food industry leader JBS S.A to invest in livestock farming, meat processing
-
Pakistani, Indian sugar bans won't affect Vietnam market: association
-
Wood pellet exports down but Japan buys more
-
Additional capital of FDI companies up 93% on-year
-
FDI capital expansion surges 66% in first half
-
Vietnam GDP grows 6.42% in six months