Investment

The Prime Minister has requested that the Ministry of Planning and Investment actively work with Hanoi to complete the pre-feasibility study for Ring Road No. 4 in the capital region and submit it to the National Assembly (NA) shortly for investment approval. The project has a length of 112.8 km and passes through Hanoi and the neighboring provinces of Hung Yen and Bac Ninh. It has total investment of more than VND94 trillion ($4.12 billion) and is to be completed by 2028.

At a meeting with National Assembly (NA) Chairman Vuong Dinh Hue on March 20, Ho Chi Minh City leaders proposed specific mechanisms to quickly and effectively deploy large projects such as Ring Road No. 3 and Thu Duc City to actively supplement capital and public investment projects. The city also proposed that the NA soon approve a project to develop Ho Chi Minh City into an international financial center.

Con Dao Airport in southern Ba Ria-Vung Tau province will be closed from April to December 2023 for renovations and upgrades costing VND4 trillion ($175 million). The upgraded airport will have a capacity of catering to 2 million passengers and handling 4,400 tons of cargo annually, and be able to welcome medium-range aircraft such as A320s and A321s instead of ATR72s, as is currently the case.

Deputy Prime Minister Le Van Thanh has signed decisions approving investment policies and infrastructure construction at a number of industrial parks in Da Nang, Thanh Hoa, Long An and Hoa Binh. According to many analysts, Vietnam will see more industrial parks as it is an attractive destination for foreign investors because of its abundant workforce and stable environment.

The Tan Van - Nhon Trach section of Ho Chi Minh City’s Ring Road No. 3 project passes through the city and neighboring Dong Nai province at a length of 8.7 km, including a bridge, and has total investment of more than VND5.3 trillion ($233.2 million), of which more than VND2.2 trillion ($97 million) will go to site clearance. It has completed contractor selection and construction will begin shortly.

Central Da Nang city has approved the “Building Da Nang city into an environmental city” project in the 2021-2030 period, at a total cost of more than VND15.5 trillion ($678 million). Capacity building and awareness raising on environmental protection will be boosted as key solutions.