The Vietnamese government has proposed investing VND 288.268 trillion (USD 11.1 billion) in the construction of Ring Road 5 around the Hanoi Capital Region, a 349km expressway designed to improve regional connectivity and support long-term economic growth.
The proposal was presented to the National Assembly Standing Committee on the afternoon of July 16 as part of a request for approval of the project's investment policy.
Le Anh Tuan, deputy minister of Construction, said the expressway would strengthen transport links between Hanoi and surrounding localities, meet growing transport demand and create new opportunities for economic development across the region.
Deputy Construction Minister Le Anh Tuan (Photo: National Assembly).
The planned route will extend about 349km through seven localities: Hanoi, Ninh Binh Province, Hung Yen Province, Haiphong, Bac Ninh Province, Thai Nguyen Province and Phu Tho Province.
The main expressway will feature six lanes with a design speed of 100-120km/h. Parallel service roads with at least two lanes will run alongside the route, with a design speed of 60-80km/h.
According to the government's proposal, the project's preliminary investment cost is estimated at VND 288.268 trillion (USD 11.1 billion). Of that, VND 215.192 trillion (USD 8.3 billion) will be allocated to the main expressway from the central government budget, while VND 73.076 trillion (USD 2.8 billion) for the parallel roads will be funded by local governments.
The government has proposed developing the project as a public investment scheme, with toll collection to begin after the expressway becomes operational.
Phan Van Mai, chairman of the Economic and Financial Committee (Photo: National Assembly).
At the meeting, Phan Van Mai, chairman of the National Assembly's Economic and Financial Committee, expressed support for the project's necessity but urged the government to further review and refine the preliminary investment estimate. Mai said updated data should be incorporated to ensure the budget is accurate, feasible and aligned with conditions in each locality.