Hanoi’s Ring Road 4 and Ho Chi Minh City’s Ring Road 3 are among significant traffic projects to Vietnam’s development and up for discussion at the ongoing National Assembly sitting Monday.
Legislative body members are set to hear reports on investment schemes for the two projects, as well as the expressway projects of Chau Doc-Can Tho-Soc Trang in Mekong Delta, Khanh Hoa-Buon Ma Thuot in the central region, and Bien Hoa-Vung Tau in the southern key economic zone, whose hub is Ho Chi Minh City.
The government has proposed Ring Road 4 in the Hanoi region to have a total length of 112.8 kilometers, running through the capital and provinces of Hung Yen and Bac Ninh. The Ring Road 3 project in HCMC would be 76.34 kilometers long and connect the economic hub with Dong Nai, Binh Duong, and Long An.
For Ring Road 4, the preliminary total investment in phase one is about VND85,813 billion (around $3.7 billion), planned to include both state budget and enterprise capital, which means the build-operate-transfer (BOT) form.
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 government plans to implement the two significant projects from 2022 to 2027. It expects the legislative body to allow a series of special mechanisms and policies to conduct investments.