Hanoi has launched, inaugurated or put into technical operation 17 major projects selected from a broader package of 54 works tied to the National Day celebrations, according to municipal and national media. These schemes span transport, railways, water supply and drainage, urban renovation and redevelopment, and the enhancement of the West Lake area. City authorities put their combined investment at about VND397 trillion, or roughly US$15.27 billion.
Officials highlight that 11 schemes are now inaugurated or technically opened to traffic, with total investment of around US$515 million. Meanwhile, six newly launched schemes carry a combined investment of roughly US$14.75 billion, pointing to a front-loaded project pipeline for the next decade. According to the chairman of the Hanoi People’s Committee, Vu Dai Thang, around VND339.5 trillion (about US$13.06 billion) of the total for the 17 projects comes from non-budget sources, concentrated in large urban and West Lake schemes.
Private capital steps into Hanoi’s core build-out
One of the largest schemes is the Vinh Hung urban renovation, upgrading and redevelopment project in Hoang Mai District. Hanoi People’s Committee and city media data show total planned capital of nearly VND186 trillion, or about US$7.14 billion, for a study area of around 447 hectares. Roughly 206.1 hectares will focus on urban renovation and redevelopment, while about 240.9 hectares are assigned to upgrading and improvement of the existing fabric.
At the city’s southern gateway, Vinhomes has started work on a multi-purpose urban development in Binh Minh and Tam Hung communes. Company and press statements put the project’s total investment at approximately VND111.1 trillion, or around US$4.26–4.27 billion, over more than 600 hectares, including an official planning figure of about 599.6 hectares. The scheme is designed for a population of just over 105,000 people and is expected to reach completion by 2030, with roles in resettlement, land clearance support and added social and commercial housing stock.
For real estate and infrastructure investors, these two schemes alone anchor a sizeable pipeline in brownfield renewal and large-scale greenfield urban districts in Hanoi’s inner-city fringe and southern peri-urban belt. As one Vietnam-focused infrastructure analyst put it in an email briefing: ‘Hanoi’s National Day project wave signals that large-ticket urban regeneration is moving from concept to execution in the capital.’ The Vietnam–Singapore tech corridor and broader Vietnam workforce competitiveness trends add further tailwinds to capital inflows targeting the city.
How do rail and West Lake fit into the investment story?
Hanoi has paired the urban push with two national railway schemes, which together aim to reshape regional connectivity. The first is the Ngoc Hoi–Kim Son section of the Eastern Ring national railway, which has a preliminary investment estimate of VND27.75 trillion, or about US$1.06–1.07 billion, according to central and local media. Plans envisage an electrified double-track railway with a standard 1,435-mm gauge, a main section of about 31.3–31.36 km from the Thuong Tin area to Kim Son, and a roughly 3-km link to Ngoc Hoi.
The second is the realignment of the Hanoi–Ho Chi Minh City railway between Phu Xuyen and Ngoc Hoi. Press reports place total investment at about US$478 million for a realigned section of around 26.5 km, plus a 3-km connection from Ngoc Hoi to the Bac Hong–Van Dien ring railway and three new stations at Ngoc Hoi, Thuong Tin and Phu Xuyen. Together, the two projects aim to cut bottlenecks, increase freight and passenger capacity, and underpin future transit-oriented development corridors in the southern and eastern approaches to the capital.
Ring Road 3.5 is another piece of the same connectivity strategy. Component Project 2, from Phuc La–Van Phu to the Phap Van–Cau Gie Expressway, has a total investment of about VND5.61 trillion, or roughly US$216 million, for around 10.7 km of road, six lanes for motor vehicles and two frontage roads. The project starts in Kien Hung Ward and is due to complete in 2027, linking to Ngoc Hoi Bridge and reinforcing the southern arc of Hanoi’s ring road system.
West Lake: a US$1.16 billion public-private partnership
Hanoi is also moving on a comprehensive renovation and enhancement of the West Lake area through a public-private partnership structured as a build-transfer contract. City sources describe total investment of around US$1.16 billion for a study area of roughly 567.75 hectares, including about 520.9 hectares of water surface and 46.85 hectares of surrounding land. The plan includes upgrading about 13.5 km of lakeside roads and adding squares, viewing platforms, scenic bridges, boat piers, parks, flower gardens and underground parking, along with environmental protection infrastructure.
Vu Dai Thang has framed West Lake as an area of exceptional landscape, environmental, historical and cultural value for Hanoi and argued that investment must be comprehensive rather than piecemeal. His stated goal is to improve the lakeside environment, upgrade infrastructure and public spaces, protect the eco-system and better promote West Lake’s distinctive values for residents and visitors. If implemented as planned, this scheme could deepen the city’s tourism and leisure offer while creating prime-quality frontage for mixed-use and hospitality projects.
For investors and lenders, the National Day package confirms that Hanoi now treats private and non-budget capital as a central pillar of its long-term infrastructure and urban strategy, not a marginal supplement to public spending. The next signals to watch will be the pace of land clearance on Ring Road 3.5, the structuring of West Lake PPP revenue streams, and how quickly Vinh Hung and the Binh Minh–Tam Hung city projects translate from site works into bankable, phased development plots.
Quick answers
Hanoi’s 17 flagship projects carry a combined investment of approximately VND397 trillion, or about US$15.27 billion, with roughly US$13.06 billion coming from non-budget and private sources.
Vinhomes is developing a multi-purpose urban district across more than 600 hectares in Binh Minh and Tam Hung communes, with total investment of about US$4.26–4.27 billion, designed for a population of just over 105,000 people and targeted for completion by 2030.
Hanoi plans a US$1.16 billion public-private partnership to renovate 567.75 hectares around West Lake, upgrading 13.5 km of lakeside roads and adding public squares, scenic bridges, parks and underground parking.
