Hanoi Approves Investment Policy for Two Mega Projects with Over $77 Billion in Capital

On the morning of December 13, the Executive Committee of the Hanoi City Party Committee, 18th term (2025 – 2030), held a specialized conference to discuss investment policies for two strategic projects: the Olympic Sports City in southern Hanoi and the Red River Scenic Boulevard. These initiatives are pivotal for the capital’s development, the Red River Delta region, and the nation, aiming to create the “Red River Miracle.”

In his opening remarks, Party Secretary Nguyen Duy Ngoc emphasized the projects’ significance in achieving a GRDP growth rate of 11% or higher by 2026 and throughout the 2026-2030 term. They will transform Hanoi into a creative, green, smart, and globally connected metropolis, embodying the spirit of a “Civilized – Unique – Innovative” capital.

Secretary Ngoc announced plans to commence both projects on December 19, 2025, with a target completion date of February 3, 2030, coinciding with the 100th anniversary of the Communist Party of Vietnam’s founding.

The Olympic Sports City will be a modern, integrated urban-sports complex, enabling Hanoi to host major international events like the Asian Games (ASIAD) and the Olympics. Spanning 9,171 hectares across 11 southern districts, it will feature four functional zones (A, B, C, D), including international-standard sports facilities and a large-scale sports-service hub.

With an estimated investment of VND 925.651 trillion and a projected population of 751,000, the project aims to complete the sports complex by Q2 2030 and the entire development by 2035.

The Red River Scenic Boulevard project will revolutionize urban infrastructure and riverside landscapes, improving living standards and driving economic growth. Stretching 80 km from Hong Ha Bridge to Me So Bridge, it includes a 3,300-hectare park system, 2,100 hectares for urban redevelopment, and metro lines. The VND 855 trillion project is slated for completion by 2030.

The Hanoi Party Committee unanimously approved both projects, endorsing their vision for sustainable urban development and economic prosperity.

In his closing remarks, Secretary Ngoc highlighted the city’s rapid transformation, citing progress in land clearance for ring road projects and river crossings. He urged officials to ensure festive preparations for the 2026 Lunar New Year, creating a joyful atmosphere for residents.