Hanoi to start building Ring Road 5 before 2030

By Bach Quang
Tue, August 30, 2022 | 10:12 am GTM+7

Hanoi aims to complete the Ring Road 4 project before 2027 and begin work on Ring Road 5 before 2030.

The timelines were set out in the city's newly-released action program on its development until 2030, with vision until 2045.

An aerial view of Vo Chi Cong street in Tay Ho district, Hanoi. Photo courtesy of Vietnam News Agency.

An aerial view of Vo Chi Cong street in Tay Ho district, Hanoi. Photo courtesy of Vietnam News Agency.

According to a detailed plan approved in 2014, Ring Road 5 will be about 331 km long, excluding 41 km that overlaps with the Noi Bai-Ha Long, Hanoi-Thai Nguyen and Noi Bai-Lao Cai expressways, was well as National Highway 3.

The route, with 4-6 lanes and a roadbed at least 22-33 meters wide, will run through Hanoi (48 km), Hoa Binh (35 km), Ha Nam (35 km), Thai Binh (28 km), Hai Duong (53 km), Bac Giang (51 km), Thai Nguyen (29 km), and Vinh Phuc (51 km).

Investment for Ring Road 5 was estimated at about VND85,560 billion ($3.65 billion), based on 2013 prices.

As for Ring Road 4, a resolution signed by Deputy Prime Minister Le Van Thanh in August set a June 30, 2023 deadline for the project to break ground, one year after the National Assembly approved the government's investment proposal.

The VND85,813 billion ($3.7 billion) project is scheduled to be completed in 2026 so that Ring Road 4 can open to traffic in 2027, according to the resolution.

The 112.8 kilometer road running through the capital city and neighboring provinces of Hung Yen and Bac Ninh, is one of the most significant traffic infrastructure projects in Vietnam’s development process, together with Ho Chi Minh City’s Ring Road 3.

Also under the new action program, Hanoi will build more bridges across the Red and Duong rivers, creating modern “architectural highlights.”

The Noi Bai International Airport will be expanded and upgraded and studies undertaken on building an additional international airport.

The city will also study building a number of inland waterway wharves for tourism development and freight transport.

Hanoi also aims to put into operation 2-3 urban railway lines by 2025, and complete 50% of its urban railway system target by 2030. Under its master plan, the capital city would have 10 metro lines by 2030.

Under a resolution passed by the Politburo, the Party's premier decision-making body, envisages average growth rate of Hanoi’s gross regional domestic product (GRDP) in 2021-2025 being higher than the national average. The city’s annual GRDP in the period 2026-2030 will grow by 8-8.5%, while GRDP per capita would reach $12,000-13,000. By 2045, Hanoi’s GRDP per capita will top $36,000.

Comments (0)
  • Read More
Vietnam’s nation brand valued at $431 billion

Vietnam’s nation brand valued at $431 billion

Vietnam has seen the third biggest brand value gain over the course of the pandemic in absolute terms, up $184 billion year-on-year to $431 billion in 2022, says London-based Brand Finance.

Economy - Sat, October 1, 2022 | 11:22 am GTM+7

Fever cools, townhouse, villa segment turns lethargic in major cities

Fever cools, townhouse, villa segment turns lethargic in major cities

Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.

Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.

Energy - Fri, September 30, 2022 | 9:24 pm GTM+7

Coro Energy operates pilot rooftop solar power project in Vietnam

Coro Energy operates pilot rooftop solar power project in Vietnam

Coro Energy has completed commissioning of its Vietnam rooftop solar pilot project, the UK-based energy firm announced Friday.

Energy - Fri, September 30, 2022 | 6:59 pm GTM+7

VN-Index pulls one back after five losing sessions

VN-Index pulls one back after five losing sessions

Vietnam’s benchmark VN-Index reversed a consecutive five session decline with a six-point gain Friday to close at 1,132 points.

Finance - Fri, September 30, 2022 | 6:30 pm GTM+7

Vietnam’s GDP growth to keep driving southern industrial property market: report

Vietnam’s GDP growth to keep driving southern industrial property market: report

The industrial and logistics market in Ho Chi Minh City, Dong Nai, Binh Duong, Long An, and Ba Ria-Vung Tau will continue to grow in 2022-2023 thanks to Vietnam’s resilient economic expansion, according to Cushman and Wakefield.

Real Estate - Fri, September 30, 2022 | 3:32 pm GTM+7

Vietnam needs bonded warehouses for US cotton imports

Vietnam needs bonded warehouses for US cotton imports

Building a Vietnam bonded warehouse for U.S. cotton would benefit both countries, Vietnam Textile and Apparel Association (Vinatas) chairman Vu Duc Giang said Friday.

Industries - Fri, September 30, 2022 | 3:19 pm GTM+7

Thai giant Central Retail eyes mall investment in Binh Thuan

Thai giant Central Retail eyes mall investment in Binh Thuan

Thailand's Central Retail is seeking opportunities to build malls and supermarkets in Binh Thuan province.

Industries - Fri, September 30, 2022 | 3:05 pm GTM+7

Vietnam Q3 unemployment lowest in 3 years

Vietnam Q3 unemployment lowest in 3 years

Vietnam's unemployment rate dropped 1.7 percentage points year-on-year to 2.28% in the third quarter, the lowest since 2020.

Economy - Fri, September 30, 2022 | 11:38 am GTM+7

Looking up HCMC’s highest high-end homes

Looking up HCMC’s highest high-end homes

Housing projects like The River Thu Thiem, Lumière Riverside, Grand Marina Saigon, and The Opera Residence are home to the most expensive penthouses in Ho Chi Minh City.

Real Estate - Fri, September 30, 2022 | 9:36 am GTM+7

VAFIE helps boost cooperation between Vietnam, India firms

VAFIE helps boost cooperation between Vietnam, India firms

Invest Global, an investment consultancy under the Vietnam Association of Foreign-Invested Enterprises (VAFIE), and a delegation of 15 Indian businesses have signed an agreement on boosting investment cooperation between the two countries.

Industries - Fri, September 30, 2022 | 8:05 am GTM+7

US dollar scales record high peak of VND24,000

US dollar scales record high peak of VND24,000

The exchange rate at Vietnamese commercial banks crossed VND24,000 per dollar Thursday, reaching a new peak that it had not scaled before.

Banking - Thu, September 29, 2022 | 9:45 pm GTM+7

Proptech firm Levitate makes its debut in Vietnam

Proptech firm Levitate makes its debut in Vietnam

Singapore-headquartered housing development platform Levitate has made Vietnam its debut market, giving consumers in the country more creative input when buying their own home.

Real Estate - Thu, September 29, 2022 | 9:19 pm GTM+7

VN-Index drops for fifth consecutive day despite strong economic data

VN-Index drops for fifth consecutive day despite strong economic data

Vietnam’s benchmark VN-Index dropped 17.55 points Thursday to 1,126.07, despite newly-released data showing the country’s nine-month GDP growth hitting 8.83%, a record high in 12 years.

Finance - Thu, September 29, 2022 | 5:18 pm GTM+7

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Hoa Phat Group has begun production at its new home appliance factory worth VND1,000 billion ($42 million) in Ha Nam province.

Industries - Thu, September 29, 2022 | 4:28 pm GTM+7

Four major markets spend $27 billion importing phones, components from Vietnam

Four major markets spend $27 billion importing phones, components from Vietnam

The U.S., EU, China and South Korea imported nearly $27 billion worth of phones and components from Vietnam in the first eight months of the year, according to the Ministry of Industry and Trade.

Economy - Thu, September 29, 2022 | 4:06 pm GTM+7