Vietnam's National Assembly on August 24 approved a resolution on the investment policy for Ring Road 5 of the Hanoi Capital Region, a project designed to establish an expressway network linking Hanoi with neighbouring localities.
The National Assembly approves several important draft laws and resolutions during its morning sitting on August 24 (Photo: Hong Phong).
The Ring Road 5 route will stretch approximately 349km across seven provinces and cities: Hanoi, Ninh Binh, Hung Yen, Haiphong, Bac Ninh, Thai Nguyen and Phu Tho. The project will be implemented through public investment and divided into several component projects.
Under the resolution, the project will require about 4,011 hectares of land and carry a preliminary investment cost of VND 288.268 trillion (about USD 11 billion).
Of the total investment, around VND 61.4 trillion (about USD 2.35 billion) from the central government budget for the 2026-2030 period is expected to be allocated to the construction of a 116km main expressway section passing through Ninh Binh, Hung Yen, Haiphong and Bac Ninh.
The National Assembly approved a timetable under which project preparation will begin in 2026, construction is scheduled to start in 2027, and the entire route is targeted for completion before 2035.