National Assembly considers special mechanisms for Ring Road No. 5 project
Lawmakers are scheduled to consider a range of important issues, including the investment policy for the Ring Road No. 5 – Hanoi Capital Region project, during the first extraordinary session of the 16th National Assembly on August 6.
On August 6, the 16th National Assembly's first extraordinary session will include discussions on the investment policy for the Ring Road No. 5 – Hanoi Capital Region project. The draft resolution aims to lay the legal groundwork for implementing this vital project, which will enhance regional connectivity, alleviate traffic congestion in Hanoi's city center, facilitate socio-economic growth, and finalize the regional expressway network.
According to the proposal, investment preparations should commence in 2026, with priority sections nearing completion by 2030, operational by 2031, and the entire route finished before 2035. To guarantee the project's timely and efficient execution, the draft suggests several unique mechanisms and policies, particularly concerning changes to investment policies, funding strategies, site clearing, land acquisition, land conversion, contractor selection, planning, revenue sharing, and investment approaches.
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