The Hanoi People's Committee has announced Decision No. 6809/QD-UBND approving the capital city's Urban Development Program until 2035.

The preliminary estimate for the total minimum development investment capital until 2035 is VND2.987 quadrillion (nearly $118 billion).

Central and city budget funds will be allocated to key projects and infrastructure development.

Resources to be mobilized from the private sector will come from facilitating the participation of businesses in public investment projects and encouraging the development of small and medium-sized enterprises.

Additionally, the city will tap into ODA funding and investment funds to implement large infrastructure projects, mobilize resources from commercial banks and financial institutions to invest in urban development and infrastructure projects, and encourage public-private partnership models to attract further investment for major projects.

The Program sets the following goals for 2030: to develop Hanoi into a modern city, a hub supporting regional connectivity, a national comprehensive service center, and an attractive economic and cultural destination for international visitors. The urbanization rate is targeted at 65% - 70%, with a 30% usage rate of modern public transportation.