Vietnam’s “Red River Miracle” Spanning 7,800 Hectares, Valued at $17.5 Billion, Gets Green Light

The project holds paramount significance for the development of Hanoi, the capital city, and Vietnam as a whole.

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Vietnam’s Government Applauds the Red River Scenic Axis Project

The Government Office has issued Announcement No. 626/TB-VPCP, detailing the Standing Government’s conclusions on the implementation of the Red River Scenic Axis investment project in Hanoi. This initiative is considered a pivotal infrastructure endeavor, poised to redefine the capital’s development strategy.

According to the Standing Government’s conclusions, the Red River Scenic Axis project aligns with the capital’s development vision, as endorsed by General Secretary Tô Lâm. The project holds significant importance for the advancement of Hanoi, the Red River Delta region, and the entire nation, aiming to create the “Red River Miracle” to achieve an 11% growth rate between 2026 and 2030.

Thus, the Standing Government has approved the proposal to study the investment in the Red River Scenic Axis project, as suggested by Hanoi.

AI-generated mockup of the future Red River Scenic Axis project (conceptual video only).

The Standing Government emphasizes that the Red River Axis must embody the principles of cultural heritage, civilization, sustainability, cleanliness, beauty, safety, modernity, and efficiency, while also achieving international standards. The project’s design must harmoniously integrate land, water, underground, and aerial spaces, transforming the Red River into a serene, beautiful, and economically vibrant hub.

Hanoi’s People’s Committee is tasked with comprehensively reviewing the project to ensure compliance with the Capital’s Master Plan, the Red River Sub-region Plan, and related regulations. Investment phases must be logically structured, with each stage completed thoroughly to avoid inefficiencies.

The Government urges Hanoi to commence the project on December 19, 2025, and complete it by February 3, 2030, coinciding with the 100th anniversary of the Communist Party’s founding—a symbolic milestone for the capital’s progress.

Regarding mechanisms, the Standing Government directs Hanoi to maximize the use of the Capital Law’s provisions to enact necessary policies. Only mechanisms not covered by existing laws should be submitted for higher approval. Proposals must clearly justify their necessity and strictly prevent corruption, negativity, and group interests.

The Chairman of Hanoi’s People’s Committee will lead discussions with the Ministries of Finance, Construction, Agriculture and Rural Development, Justice, and relevant agencies to finalize special mechanisms. These will be reported to the Hanoi Party Committee and the Government Party Committee for submission to the Politburo by November 20, 2025.

Based on the Politburo’s feedback, the Ministry of Finance will complete the dossier, collaborate with Hanoi and other ministries to seek National Assembly and Standing Committee approval. The Government will issue a streamlined resolution to institutionalize these special mechanisms, providing a unified legal framework for the project.

Vietnam’s “Red River Miracle”: A 7,800-Hectare, 400 Trillion VND Project

According to Hanoi’s Department of Construction, the Red River Scenic Axis is one of five strategic axes outlined in the Capital’s Master Plan.

This mega-project spans approximately 11,000 hectares, stretching 40 km along the Red River, across 16 wards within the Ring Road 4 area, impacting 40,000 residents. Preliminary estimates indicate an investment of over 400 trillion VND.

The project will significantly contribute to Hanoi’s four key objectives: alleviating traffic congestion, reducing environmental pollution, enhancing urban aesthetics, and addressing inner-city flooding. Upon completion, it will connect all bridges crossing the Red River.

Hanoi’s People’s Committee has tasked the consortium of Van Phu Investment and Development Joint Stock Company and Deo Ca Group Joint Stock Company with researching and developing the comprehensive plan for the “Red River Scenic Axis.”

In August 2025, Van Phu and Deo Ca conducted two field surveys in Chongqing, China, to study exemplary riverside infrastructure projects. They also engaged domestic and international consultants to refine the project.

By September 2025, Deo Ca Group’s delegation met with Seoul Mayor Oh Se-hoon to learn from South Korea’s “Han River Miracle,” aiming to replicate its success in creating Vietnam’s “Red River Miracle,” in line with the Party and State’s vision.

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