Clear image of the Belt Road 4 – Hanoi’s Capital Region.
The reason for this is because Hanoi city implemented numerous measures and actions to accelerate the progress from the beginning of the year. Many construction sites have arranged shifts and construction teams to work through the Lunar New Year holidays to ensure that the set deadlines are met. Especially, the Belt Road 4 project within Hanoi’s Capital Region has received full support from the political system, and the contractors have expressed a high level of determination, hence everything is progressing faster than expected.
According to the Hanoi People’s Committee, as of the beginning of March, the total investment capital implemented from the state budget managed by local authorities reached VND 6.306 trillion, an increase of 25.1% compared to the same period last year and achieved 8.1% of the plan for 2024. Specifically, the local budget implemented VND 2.547 trillion, an increase of 7.4% and achieved 7.1%, the district budget implemented VND 3.489 trillion, an increase of 39.6% and achieved 9.1%, the commune budget implemented VND 270 billion, an increase of 57.7% and achieved 8.3%.
In February alone, the implemented capital reached VND 2.335 trillion, a decrease of 41.2% compared to the previous month and a decrease of 9.2% compared to the same period in 2023 (mostly due to coinciding with the Lunar New Year holiday).
The Hanoi People’s Committee stated that in 2024, Hanoi city will have 226 concentrated basic construction investment projects, including 155 projects in progress with an investment capital of VND 205.5 trillion (the plan for capital disbursement in 2024 is VND 24.4 trillion); and 71 newly started projects with a total investment capital of VND 7.2 trillion (the plan for capital disbursement in the year is VND 1.1 trillion).The transportation sector has the largest number of projects with 58 projects, accounting for 19.5% of the capital plan. Up to now, the key projects and constructions in the city are still maintaining their progress and are expected to be completed according to the set plans.
The Belt Road 4 project within Hanoi’s Capital Region passes through 3 provinces and cities (Hanoi, Hung Yen, and Bac Ninh), connecting the Hanoi – Lao Cai and Noi Bai – Ha Long expressways with a length of 112.8 km and a total investment capital of about VND 85.8 trillion for phase 1. Currently, the project is being actively implemented by local authorities to hand over the land for the entire construction to ensure the set progress. Up to now, the total invested capital for the project is about VND 12.6 trillion, and the construction progress has reached 8.3%.
The Belt Road 1 project, Hoang Cau – Voi Phuc section (phase 1), has a length of 2.3 km, a cross section of 50 m, and 2 bridge spans at Lang Ha and Nguyen Chi Thanh intersections. The starting point of the road connects with Cat Linh – La Thanh – Yen Lang Street at Hoang Cau (Dong Da district), and the endpoint is at the Voi Phuc intersection (Ba Dinh district). The investment capital for phase 1 of the project is more than VND 7.2 trillion from the city budget, including construction costs of VND 627 billion and land clearance costs of VND 5.8 trillion. Up to now, 25.9% of the planned capital has been disbursed for the project.
The upgrading and improvement project of National Highway 6, Ba La – Xuan Mai section, covers a length of 21.7 km, from Ba La intersection in Ha Dong district to Xuan Mai town, Chuong My district. The project upgrades the road to 4 – 6 lanes, with a design speed of 80 km/h, and a widened road pavement of 50m – 60m, contributing to the completion of an important route connecting National Highway 21A, Ho Chi Minh Road, and the Belt Road 4 in the Capital Region. The total investment capital is VND 8.1 trillion from the city budget, including VND 5.1 trillion for land clearance and VND 2.9 trillion for construction and equipment acquisition. Currently, 6.7% of the planned capital has been disbursed for the project.
The Thang Long Avenue Expressway project, connecting National Highway 21 to the Hanoi – Hoa Binh Expressway, has a length of 6.7 km, with the starting point at the junction of Thang Long Expressway and National Highway 21 in Thach Hoa commune, Thach That district, and the endpoint at the junction with Hoa Lac, Hoa Binh Road. The cross section varies from 120m to 180m. The total investment capital for the entire project is VND 5.2 trillion. Currently, 6.3% of the planned capital has been disbursed for the project.
The construction project of Hanoi Children’s Hospital – phase 1, with a total investment capital of nearly VND 785 billion, is built on a land area of 67.9 thousand m2 in Yen Nghia ward, Ha Dong district, Hanoi. The project includes a 6-story building with 2 units, with a designed capacity of 200 inpatient beds. Currently, 42.8% of the planned capital has been disbursed for the project.
The Hanoi Children’s Palace project started in March 2021 with a total investment capital of over VND 1.3 trillion. The project is being built in Cau Giay New Urban Area, covering a total area of 39.6 thousand m2, including a construction area of 10.3 thousand m2. Currently, 72.9% of the planned capital has been disbursed for the project.
In addition to directing the consistent implementation of set solutions to ensure the progress of projects, Hanoi city continues to attract investment from outside the area to develop production, business, and investment in infrastructure.
Due to the difficulties in the domestic and global economy, despite the city’s efforts to attract thousands of businesses to the area, the number of businesses has decreased compared to previous years. Especially, the number of dissolved and temporarily suspended businesses has increased sharply.
From the beginning of 2024 until now, there have been 3,508 newly established businesses in Hanoi, a decrease of 14% compared to the same period last year. However, the registered capital reached VND 49.1 trillion, an increase of 32%. There were 634 dissolved businesses, an increase of 7%; 13.5 thousand businesses temporarily suspended, an increase of 53%; and 4,014 businesses resumed operations, an increase of 43%. The proportion of business registration documents submitted online has been maintained at 100%, ensuring quality and compliance with deadlines.
Mr. Nguyen Manh Quyen, the Vice Chairman of the Hanoi People’s Committee, said that the city’s People’s Committee is instructing the departments, agencies, and the Hanoi Investment Promotion and Trade Tourism Center to continue organizing investment promotion, trade promotion, and tourism promotion activities with the provinces of Laos in order to strengthen investment cooperation through various programs, projects, and solidify the good traditional relationship between Vietnam and Laos.
Mr. Nguyen Anh Duong, the Director of the Hanoi Investment Promotion and Trade Tourism Center, said that in March 2024, Hanoi city plans to promote investment, trade, and tourism with provinces in Laos to further enhance investment cooperation through many programs, projects, and strengthen the close relationship between the two countries, Vietnam and Laos.
