Hanoi’s landmark Red River boulevard gets government green light

Hanoi’s landmark Red River boulevard gets government green light

The Government Standing Committee has endorsed Hanoi's VND338 trillion ($13.5 billion) Red River Scenic Boulevard, marking a crucial step towards creating a new socioeconomic growth axis and a modern urban symbol for the capital.

Covering a study area of up to 11,000 hectares, the Red River Scenic Boulevard Development project is expected to become a defining symbol of a cultured, distinctive, and creative Hanoi.

A perspective of Hanoi's Red River Scenic Boulevard

The Government Office issued Notice No. 626/TB-VPCP on November 17, announcing the conclusion of the Government Standing Committee at its meeting on November 15.

The Government Standing Committee said that the proposed undertaking aligns with the strategic development orientation of Hanoi and has received in-principle approval for further study from Party General Secretary To Lam.

The committee agreed in principle to allow Hanoi to conduct investment research for the scheme.

“The project must ensure the goals of green, clean, beautiful, safe, modern, and international-standard development; effectively utilising land, water surfaces, underground spaces, and elevated spaces. This would make the Red River more harmonious and beautiful, serving socioeconomic development needs while creating jobs and livelihoods for residents and improving both their material and spiritual wellbeing,” the committee emphasised.

The committee assigned Hanoi People’s Committee to review and ensure that project implementation is consistent with the capital's master plan, the Red River sub-zoning plan, and other relevant frameworks, while ensuring social and economic effectiveness.

The city is expected to begin construction on December 19 and inaugurate the boulevard on the occasion of the 100^th founding anniversary of Vietnam Communist Party on February 3, 2030.

Hanoi People’s Committee, via Hanoi Department of Finance, has received a proposal from a consortium comprising Deo Ca Group JSC, Van Phu Invest JSC, MIK Group Vietnam JSC and Dai Quang Minh Real Estate Investment Corporation to study and implement the Red River Scenic Boulevard project under a public-private partnership (PPP) model, with a funding commitment and capital-arrangement mandate from VPBank.

According to Hanoi People’s Committee, the project is envisioned as a landmark development capable of catalysing a new growth phase, creating a dynamic axis linking existing urban zones, expanding development space to the north and south of the Red River, and forming a new symbol of the capital in an era of modernisation and international integration.

Accelerating project implementation from 2026 is crucial for preparing resources, infrastructure, and development space for the 2026-2030 period, helping to realise major orientations of the Party, the state, and Hanoi Party Committee.

Specifically, the plan aims to establish a new development corridor along both banks of the Red River, connecting central Hanoi with northern and southern districts, expanding space for urban, commercial, service, tourism, and logistics development, and contributing significantly to boosting regional and national GDP.

Hanoi People’s Committee assessed that the Red River is a uniquely valuable natural, cultural, and ecological resource for the nation, playing a vital role in irrigation, disaster prevention, climate regulation, and water security.

Developing synchronised infrastructure along both riverbanks, combined with embankments, drainage works, green spaces, parks and cultural zones, will strengthen the management and protection of the flood-escape corridor, ensuring national safety, energy security, and environmental protection.

“This is also an important step towards revitalising riverside urban areas, improving living conditions for residents in flood-plain zones, and creating a sustainable ecological landscape rooted in the Thang Long-Hanoi historical and cultural identity,” a leader of Hanoi People’s Committee noted.

Investment preparation, planning, and the PPP proposal are now basically completed. If approved by the government, the project could break ground as early as January 2026, in celebration of the 14^th National Party Congress.

“Timely implementation will help avoid waste of social resources, capitalise on favourable policies, financing, and site clearance, shorten timelines, enhance investment efficiency, and generate economic momentum from the inception,” said the Hanoi executive.

Hanoi is also preparing to launch several other major infrastructure projects, including the Olympic Sports Urban Complex, the road linking Gia Binh International Airport with Hanoi, and new bridges crossing the Red River.

These projects hold exceptional significance for the development of the capital, the Red River Delta region, and the country as a whole, contributing to the ambition of creating a "Red River Miracle" and enabling Hanoi to reach its 11 per cent growth target during 2026-2030.

VIR