Investment

The 475-meter Le Van Luong - Ring Road No. 3 tunnel in Hanoi opened on October 5. Costing nearly VND700 billion ($29.31 million), the tunnel will ease chronic congestion along the Le Van Luong - To Huu route. This is the fourth underground tunnel in the capital and the third along Ring Road No. 3.

Figures from the Da Nang Statistics Office show that the central city recorded high socio-economic growth in the first nine months of 2022. Its gross regional domestic product (GRDP) growth was estimated at 16.76 per cent year-on-year, with the service sector rising 21.69 per cent, the industry-construction sector 7.83 per cent, and the industrial sector 9.09 per cent. Da Nang’s economic recovery continues apace.

Phu Cat Airport in Quy Nhon city, south-central Binh Dinh province, currently has a capacity of welcoming 1.5 million passengers a year. New passenger terminals are to be built by 2050, increasing capacity to 7 million passengers a year and able to cater to Code E aircraft.

Established on September 22, the Government Working Group led by Deputy Prime Minister Le Van Thanh will urgently study and develop public-private partnership (PPP) projects for four airports, in the Mekong Delta’s Can Tho city and northern Son La, north-central Nghe An, and central Quang Nam provinces, and will review and add other airports to upcoming planning to 2050.

Construction of Long Thanh International Airport and connecting traffic routes is being accelerated to open on National Day, September 2, 2025. On October 2, while checking on the project, National Assembly Chairman Vuong Dinh Hue suggested that difficulties and problems that need to be resolved and are within the NA’s authority should be reported to the legislature so they can be dealt with as soon as possible.

The Ministry of Planning and Investment is consulting with the interdisciplinary appraisal council on a pre-feasibility study for the Tan Phu - Bao Loc Expressway project, connecting the two provinces of Dong Nai and Lam Dong. Total investment is about VND17.2 trillion ($720.65 million), to come from central budget capital, Lam Dong’s budget capital, investor equity, and other sources.