On December 14, at its 29th session, the 16th Hanoi People's Council adopted a resolution approving the investment policy for the Red River Scenic Boulevard construction project across the city.

The decision marks a strategic turning point to realize Hanoi's aspiration to "turn toward the river" and create the "Red River miracle".

Standing Party Committee member and Standing Vice Chairman of the Hanoi People's Committee Duong Duc Tuan presented Submission No. 471/TTr-UBND on approving the investment policy for the Red River Scenic Boulevard project and its initial independent subproject to serve the groundbreaking phase.

He said the Red River Scenic Boulevard project represents a strategic breakthrough that turns the vision of "turning Hanoi toward the river" into reality and lays the foundation for the "Red River miracle".

According to Tuan, promoting the Red River Scenic Boulevard project has become an urgent task to resolve a long-standing paradox in the capital's development.

For decades, the Red River has served as an irreplaceable lifeline for Hanoi's growth. However, flood prevention needs led to the construction of dike systems along both banks, which, while necessary, unintentionally separated the river from the city's development space.

As a result, transport infrastructure along both riverbanks remains insufficient and fragmented, he said.

In response, Politburo's Resolution No. 15-NQ/TW dated May 5, 2022, clearly assigned the task of investing in and developing harmonious urban areas on both sides of the Red River.

The Prime Minister also approved the Hanoi Master Plan, which identifies a breakthrough strategy for organizing urban space along the river corridor. Notably, the project aligns with the capital's strategic development orientation that Party General Secretary To Lam endorsed for further study.

According to Standing Vice Chairman Duong Duc Tuan, the Red River Scenic Boulevard project offers a strategic solution to overcome this separation, transforming the Red River from a flood-control corridor into a harmonious, integrated and sustainable urban development axis, in line with Politburo directives.

As per the Hanoi People's Committee submission, the project has a preliminary total investment of up to VND855 trillion (US$32.5 billion) and targets completion by 2030. The study area spans about 11,000 hectares, stretching from Hong Ha Bridge to Me So Bridge and crossing 19 communes and wards in Hanoi.

The project consists of multiple independent components to ensure overall synchronization.

These include developing an approximately 80-kilometer traffic boulevard along both the left and right banks of the Red River; creating about 3,300 hectares of landscaped parks and recreational spaces; and carrying out land clearance for urban redevelopment across roughly 2,100 hectares.

Notably, the project also includes investing in a 45-kilometer underground metro line along the river's right bank to integrate with the city's urban railway system.

The city will implement resettlement urban areas either on site in high-rise apartment buildings or on land designated to compensate investors.

To facilitate early groundbreaking, the Hanoi People's Committee also proposed approving an initial independent subproject to build a public park in Phu Thuong Ward, covering about 2 hectares with an estimated investment of VND670 billion ($25.5 million).

According to the submission, the project will drive strong and comprehensive urban redevelopment and may affect around 200,000 residents. The city commits to arranging partial on-site resettlement for affected households.

The city will select investors under special mechanisms already approved by the National Assembly and the municipal People's Council.

The Hanoi People's Committee affirmed that the project qualifies as a large, important and urgent investment that receives close attention and guidance from central and government leaders.