Investment

Hanoi has proposed setting aside nearly VND23 trillion ($993.74 million) from the city budget to build a section of Ring Road No. 4 passing through the capital with a length of 58.2 km. The Capital Region’s Ring Road No. 4 is 112.8 km long and passes through three cities and provinces - Hanoi, Hung Yen, and Bac Ninh.

Under a Decision signed by the Prime Minister on the “Railway network planning in the 2021-2030 period and vision to 2050”, a project building the Ho Chi Minh City - Can Tho railway, passing through six southern and Mekong Delta cities and provinces, is now being urgently planned. Estimated investment is $7 billion, with implementation prior to 2030. Two investors from the US and UK have expressed interest.

A project to build a 6.7-km long road connecting Thang Long Boulevard in Hanoi with the Hoa Lac - Hoa Binh Highway at a cost of VND5.5 trillion ($237.74 million) will be implemented from now to 2026. The project will develop Hanoi to the west and southwest and connect it with the Ho Chi Minh Highway.

Northern Lao Cai province is to hold a tender to select an investor to build Component 2 of the Sa Pa Airport project, with total investment of more than VND3.65 trillion ($157.96 million). The highlight is the construction of a passenger terminal on an area of over 12,000 sq m and with a capacity of catering to 1.5 million passengers a year. The project will be a breakthrough in the development of transport infrastructure in Lao Cai province and the nearby region.

The Thai Nguyen Provincial People’s Committee has issued investment licenses to three urban projects in Thai Nguyen city and Song Cong city. With a total land area of nearly 300,000 sq m and capital of some VND780 billion ($33.63 million), the three projects will contribute to easing housing demand.

According to the Ministry of Finance (MoF), the disbursement of public investment this year as of the end of May stood at VND115.92 trillion ($5 billion), an increase of 22.12 per cent over the same period of 2021 and representing 22.37 per cent of the annual plan assigned by the Prime Minister. Five ministries and 17 localities posted a disbursement rate of over 30 per cent.