Hanoi kicks off $4.94B investment push across 18 key projects

Hanoi inaugurated projects, opened a road section to technical traffic and broke ground on major works on Oct. 9 to mark the 72nd anniversary of Capital Liberation Day (Oct. 10, 1954-2026).

The city announced 292 projects with a combined investment of VND384.886 trillion (US$14.92 billion), including 18 key projects worth VND127.46 trillion, focusing on transport, infrastructure, environmental protection and public services.

A highlight was the opening to technical traffic of a 15 km section of the Ring Road 4 parallel road, from the Huu Hong dyke-Hong Ha Bridge area to Thang Long Boulevard. The 58.2 km project, launched in June 2023, has reached about 90% completion. Hanoi plans to open two more sections totaling 22 km in November and complete the entire parallel road this year.

Three sections of Ring Road 2.5, spanning 2.2 km, are also among the featured projects, alongside Yen So Bus station, designed to handle 800-1,000 vehicle trips daily, and the second facility of Hanoi Heart Hospital, which will provide 300 beds.

New transport and logistics projects include an elevated road along Co Linh Street linking to the Hanoi-Hai Phong Expressway and Giang Bien inland waterway port, which is expected to strengthen freight connections with the northern port system.

Environmental projects include a scheme to upgrade dykes, dredge and tackle pollution along the Nhue River, with a preliminary investment of more than VND75 trillion, and a VND11.681 trillion project to clean up the Cau Bay River. A wastewater collection and treatment system in western Hanoi is also planned.

In industry, the first phase of Tien Thang Industrial Park will cover more than 230 ha, with an investment of VND4.455 trillion, and is expected to create over 16,000 jobs.

Tourism and cultural developments include a cultural and commercial space along 131 railway arches near Long Bien Bridge, a 299 ha Ba Vi Safari Park outside Ba Vi National Park, and a multi-purpose entertainment complex featuring a horse-racing track in Soc Son, with investment of $420 million.

A hotel, office and commercial complex in Dong Anh will receive investment of $120 million.

An artist's impression of the entrance gate to Ba Vi Safari Park. Photo by the investor

Hanoi will also develop three modern multi-level schools in Thach That, Soc Son and Phu Dong. A cybersecurity center and centralized data center, worth nearly VND4.5 trillion, are scheduled for completion in February 2028.

At the ceremony, Chairman of the municipal People’s Committee Vu Dai Thang urged investors and project owners to ensure timely implementation, maintain construction quality and avoid cost overruns. He also called for faster resolution of land clearance and infrastructure bottlenecks, while ensuring labor safety and minimizing disruption to residents.