National Assembly delegates on Thursday approved investment policies for Hanoi’s Ring Road 4 and Ho Chi Minh City’s Ring Road 3, two of the most significant traffic infrastructure projects in Vietnam’s development process.
Ring Road 4 in the Hanoi region will have a total length of 112.8 kilometers, running through the capital and neighboring provinces of Hung Yen and Bac Ninh.
Ring Road 3 in HCMC will be 76.34-kilometers long and connect the southern economic hub with Dong Nai, Binh Duong, and Long An provinces.
The total coast for Ring Road 4 is about VND85,813 billion (around $3.7 billion), planned to include both state budget and private capital. Construction is set to start this year and expected to be complete in 2027.
For Ring Road 3 in HCMC, the total investment in phase one is about VND75,378 billion ($3.25 billion) using 100% state budget, including roughly half from the national budget.
The metropolitan administration will take the lead in carrying out the Ring Road 3 project. It will work with authorities of Dong Nai, Binh Duong, and Long An to complete project plans for government approval, said Tran Quang Lam, director of the HCMC Department of Transport.
"This July will be for making feasibility studies. The fourth quarter of this year will see the handover of project boundaries to implement compensation and resident resettlement work. Groundbreaking for the project is set for the end of 2023," he added.