Hanoi’s second metro line project to drag on to 2029
The Nhon-Hanoi Station railway’s trains. Photo courtesy of Vietnam News Agency.
Hanoi Urban Railway Management Board has proposed to delay the Nhon-Hanoi Station urban railway project for seven years and an extra investment capital expenditure of over $200 million.
Work on the city's second railway project started in 2009, originally scheduled for completion in 2022, but construction progress has been delayed.
The project is deploying all 10 main bidding packages. Its overall completion progress is about 74.36%. The figures for the elevated and underground sections are 95.1% and 33%, respectively.
According to a representative of the board (MRB), the project now faces five major challenges. First, equipment contracts have seen both implementation time and costs extended due to the impact of 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.
According to the new proposal, the elevated section will be operational in 2022, the full route in 2027, with warranty and payment settlement completion in 2029.
MRB also asked for the total project investment to rise to VND34,532 billion ($1.49 billion), an increase of $211.6 million.
The extra costs are derived from the variation of the exchange rate between the Euro and Vietnamese dong, amendments to the design and technical requirement to fit the implementation reality and operational mode, delays, updates of investment expenditures, and work supplements, it claimed
The Nhon-Hanoi Station section of Hanoi's pilot urban railway project is 12.5 kilometers long. The line has eight elevated stations and four underground, with an 8.5-kilometer elevated section from Nhon in Bac Tu Liem district to Cau Giay district and four-kilometer underground section from Cau Giay district to Hanoi Station in Dong Da district. Hanoi Station is one of Vietnam's major train hubs.
The project is funded by official development assistance loans from the French government, French Development Agency, Asian Development Bank, European Investment Bank, and domestic counterpart funds.
- Read More
Vietnam’s telecom giant Viettel expands defense tech cooperation with Turkish partners
Viettel High Tech, a subsidiary of military-run telecom heavyweight Viettel, has advanced partnerships in military communications, 5G infrastructure, counter-UAV systems, and next-generation defense technologies with major Turkish defense and telecom companies at the SAHA 2026 Defense and Aerospace Exhibition in Istanbul.
Companies - Thu, May 14, 2026 | 12:58 pm GMT+7
Vietnam Rubber Group posts highest quarterly profit in 5 years
Shares of Vietnam Rubber Group (HoSE: GVR) have surged 28% over the past three weeks after the state-controlled corporation reported its highest quarterly profit in five years, driven by a sharp increase in land compensation income and rubber tree liquidation gains.
Companies - Thu, May 14, 2026 | 12:09 pm GMT+7
Quang Ninh province coastal economic zone set to become seaport, logistics hub in Vietnam’s northern coast
The Prime Minister has approved the master plan for Quang Yen Coastal Economic Zone (CEZ) in Quang Ninh province through 2050, positioning the strategically located area between Quang Ninh and Hai Phong as a major hub for industry, seaport services, logistics, urban development, and tourism in northern coastal Vietnam.
Economy - Thu, May 14, 2026 | 11:22 am GMT+7
How VinMetal is quietly propping up steelmaker Pomina
Rather than injecting large amounts of capital directly into Pomina, VinMetal appears to be quietly taking control of both the upstream supply chain and downstream product distribution — a more cautious approach than previously disclosed.
Companies - Thu, May 14, 2026 | 8:31 am GMT+7
VinFast to sell manufacturing arm in $530 mln restructuring, adopts ‘asset-light’ model
VinFast is undertaking one of its largest restructurings since listing in the United States, with plans to divest its manufacturing unit VFTP in a deal valued at about $530 million while separating its technology, branding and sales operations into a new “asset-light” structure aimed at reducing capital pressure and optimizing global operations.
Companies - Wed, May 13, 2026 | 10:31 pm GMT+7
Vietnam auto sale growth outperforms almost ASEAN peers in 2025
Vietnam has emerged as a major growth engine for the automobile industry in Southeast Asia, significantly outperforming most of its regional neighbors last year, according to an overview report of the ASEAN-6 automotive market by PwC.
Economy - Wed, May 13, 2026 | 4:59 pm GMT+7
AIG starts work on $24 mln coconut processing plant in southern Vietnam
Asia Ingredients Group (AIG), a leading supplier and manufacturer of food ingredients and packaged food in Vietnam, has begun construction of a second large-scale coconut processing plant in Vietnam’s Mekong Delta as the company expands capacity to meet rising global demand for processed coconut products.
Industries - Wed, May 13, 2026 | 3:38 pm GMT+7
Murphy Oil bets on Vietnam growth as offshore projects advance
U.S. energy giant Murphy Oil is accelerating its offshore expansion in Vietnam, advancing development at the Lac Da Vang field while ramping up appraisal work at the Hai Su Vang discovery, which the company described as the largest oil find in Southeast Asia in two decades.
Energy - Wed, May 13, 2026 | 3:19 pm GMT+7
Experts call for removing bottlenecks to unlock southern Danang urban corridor
Experts and businesses said Danang needs to remove infrastructure, regulatory and planning bottlenecks to unlock the full potential of its southern urban corridor and create a new growth engine for the region.
Real Estate - Wed, May 13, 2026 | 2:57 pm GMT+7
Vietnam seeks further invesment from Tata in tea, food processing
Tata Consumer Products should further expand investment in Vietnam and consider developing businesses in sectors such as tea production and food processing, said Vienam's Minister of Finance Ngo Van Tuan.
Industries - Wed, May 13, 2026 | 11:32 am GMT+7
Power offtake guarantee to be expanded for LNG power investment in Vietnam
A ministerial proposal to raise the minimum long-term contracted electricity output ratio, known as Qc, from 65% to 75% is expected to ease financing difficulties for LNG-to-power projects in Vietnam and improve the sector’s investment appeal.
Energy - Wed, May 13, 2026 | 10:46 am GMT+7
Southern corridor seen as ‘heart’ of Danang’s multi-polar urban development
Following its merger with Quang Nam province last July, Danang is gradually shaping a multi-polar urban development model with several new growth corridors, while the city’s southern axis is expected to play a central role in the new urban structure.
Real Estate - Wed, May 13, 2026 | 7:00 am GMT+7
Vietnam stock market: Cash flow divide leaves many investors behind
Although Vietnam’s benchmark VN-Index continues to rise, a growing divide in cash flows is leaving many investors struggling to keep pace with the rally.
Finance - Tue, May 12, 2026 | 8:20 pm GMT+7
Accton Technology injects extra $80 mln into Vietnam subsidiary
Accton Technology Corporation, a Taiwanese network equipment manufacturer and a partner of Intel, has approved an additional $80 million investment for its subsidiary in Vietnam, underscoring the country’s growing role in the global supply chain for networking equipment, data centers, and AI infrastructure.
Industries - Tue, May 12, 2026 | 4:19 pm GMT+7
Hanoi cuts $4.48 bln from gigantic Red River boulevard project
Hanoi authorities on Monday revised several key aspects of the Red River Scenic Boulevard project, notably reducing its total investment capital by VND118 trillion ($4.48 billion) compared to the original plan.
Infrastructure - Tue, May 12, 2026 | 3:14 pm GMT+7
Taiwanese firm Panjit invests $45 mln to expand semiconductor facility in Vietnam
After acquiring a 95% stake in Ho Chi Minh City-based Torex Vietnam Semiconductor, Taiwanese semiconductor manufacturer Panjit has approved an additional $45 million investment in its production facility in Vietnam.
Industries - Tue, May 12, 2026 | 10:56 am GMT+7
