The celebrations in Thuc Phan Ward will run from August 28 to September 1 to promote tourism and attract visitors.
The highlight will be the outdoor music festival at Pac Bo Square on the evening of September 1, followed by a 15-minute high-altitude fireworks display.
The lanterns are reusable LED balloons filled with non-flammable helium rather than traditional paper lanterns. Each will be tethered, retrieved after about 30 minutes and reused to minimise environmental impact.
The programme will also feature a traditional arts performance, a bamboo raft race on the Bang Giang River, handicraft competitions and an exhibition of local OCOP (One Commune One Product) goods.
The events are expected to boost tourism following a similar celebration held during the April 30 holiday, which attracted about 57,000 visitors, according to local authorities.
The programme has an estimated budget of VND 5 billion (USD 190,000), funded entirely through private sponsorship.