The Capital’s Underground Network Expansion: Hanoi’s $55 Billion Bet on 600 km of Metro Lines

The Hanoi People's Council has unanimously approved the proposal to develop the Capital City Metro Project. By 2045, the ambitious plan aims to construct nearly 600 kilometers of urban rail, with a total investment of over $55 billion. This monumental project is envisioned to revolutionize the economic and social landscape of the city, ushering in a new era of modern, efficient, and sustainable transportation for the bustling Vietnamese capital.

0
138

During the afternoon session on July 2nd, the Hanoi People’s Council discussed and gave opinions on the master plan for investing in and constructing the capital city’s urban railway system.

Delegate Pham Thi Thanh Mai shared her thoughts, stating that the plan requires further clarification. Out of the 23 policy groups within the proposal, several policies are already mentioned in Article 31 of the amended Capital Law, which was recently passed. Additionally, the contents of the draft resolution are based on various documents, including conclusions from the Politburo, the Central Party Office, and several ministries, as well as regulations from the Hanoi Party Committee, which may not be entirely reasonable.

Regarding the content of the plan, the Hanoi People’s Committee’s explanation was rather vague. For instance, the committee agreed to assign the task force to further refine and develop the proposal. Some aspects, such as ODA capital and public debt, also lacked clarity.

Many delegates agreed that certain aspects of the plan, such as mechanisms and policies, needed further elaboration, and thus, the municipal People’s Council should provide additional feedback.

Hanoi People’s Council approves the proposal for the urban railway system.

After considering the explanations provided by the representative of the Hanoi People’s Committee, the Standing Committee of the Hanoi People’s Council sought the delegates’ opinions on whether to issue a separate resolution for the master plan or include it in the resolution on key tasks for socio-economic development, national defense and security, and budget revenue and expenditure for the last six months.

With 83 out of 89 agreeing votes, the Hanoi People’s Council decided to integrate the master plan into the resolution on key tasks for socio-economic development, national defense and security, and budget revenue and expenditure for the last six months. The Hanoi People’s Committee was assigned to incorporate the council’s feedback and finalize the plan for submission to the competent authorities for approval, following the prescribed procedures.

Earlier, at the opening of the 17th session of the Hanoi People’s Council on July 1st, Mr. Nguyen Phi Thuong, Director of the Department of Transport, presented the proposal for the master plan for investing in and constructing the capital city’s urban railway system.

The plan aims to develop a synchronized and modern urban railway system that meets the city’s public transport needs. The goal is to achieve a public transport passenger volume of 50-55% by 2035 and over 65-70% after 2035.

To achieve this goal, Hanoi proposed a plan with “one plan and three investment phases.” According to the proposal, by 2045, Hanoi will have completed nearly 600 kilometers of urban railways, with a total investment of over 55 billion USD.

Regarding capital mobilization, Hanoi will review various sources of public investment, including budget capital, bond loans, ODA loans, and other sources of capital mobilization in accordance with current regulations.

Thanh Hieu

You may also like

Choose La Mia Bao Loc – Embrace a Fulfilling Life with an Ideal Green Living Standard

Not just a perfect blend of art and inspired Italian-style resort, La Mia Dalat also effortlessly brings each resident to the standards of peaceful living, well-being, and balanced body-mind-soul.

Hanoi to have nearly 100m wide road soon

Hanoi is about to have a nearly 100m wide, 1.3km-long road connecting from Xuân Diệu street to the Tây Hồ villa area.

Hanoi to reclaim over 2,600 hectares of agricultural land in two districts

The plan for land use in 2024 for Hoang Mai district and Dong Anh district has just been approved by the city of Hanoi. As a result, a total area of over 2,600ha of agricultural land is expected to be reclaimed by these two units within the year.

Hanoi’s Update on the Delayed 1.000 billion VND Hospital Project

To address the challenges faced by investors, the Hanoi People’s Committee has instructed the Long Bien People’s Committee and the Department of Natural Resources and Environment to resolve any obstacles that arise during the implementation of the Thang Long 1,000-Year Oncology and Plastic Surgery Hospital project.

Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi

Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.