Hanoi Capital Region's Ring Road 5 Proposed with Nearly VND 290 Trillion Investment

The Vietnamese government has proposed a large-scale infrastructure project, the "Ring Road 5 of the Hanoi Capital Region," aimed at connecting a wide area of the capital region, fostering economic development, and enhancing transportation network efficiency. The total estimated investment for this project is expected to reach approximately 290 trillion Vietnamese Dong (VND), which is roughly equivalent to USD 12 billion. This plan was announced on the afternoon of August 6, during the first extraordinary session of the National Assembly convened by the Central Committee of the Communist Party of Vietnam. Minister of Construction Tran Hong Minh, acting on behalf of the Prime Minister, presented a proposal regarding the investment policy for the Ring Road 5 construction project. The Ring Road 5 is anticipated to become a crucial artery connecting extensive areas of the Hanoi Capital Region, specifically linking neighboring provinces such as Thai Nguyen and Quang Ninh. Thai Nguyen province has already planned an investment of approximately 7.8 trillion VND for the construction of a section of this ring road. Furthermore, Quang Ninh province has submitted a proposal to add a new expressway connecting the Hai Phong-Ha Long Expressway to the Ring Road 5. Currently, efforts are being expedited to complete the feasibility study report for the project, and detailed preparations are underway for its implementation as an investment project. The construction of this Ring Road 5 is considered part of Vietnam's state-led development strategy under its one-party system, aiming to strengthen inter-regional connectivity and promote economic growth. Particularly for Vietnam, which has strong economic ties with China, domestic infrastructure development is an essential element for stabilizing supply chains and expanding the domestic market.