On December 13, at a conference of the 18th Hanoi Party Committee Executive Board, Standing Vice Chairman of the Hanoi People's Committee Duong Duc Tuan presented a report on the investment policy for implementing the Red River Landscape Boulevard project.

According to Tuan, the project holds special significance for the capital's urban spatial development.

The project aims to develop and complete the transport infrastructure system, promote urban space development along both banks of the Red River and create a modern and synchronized urban landscape on both sides of the river.

The project aligns with sustainable development orientations, contributes to improving the quality of the capital's central urban area and follows the directives of the General Secretary during Politburo working sessions with the Hanoi Party Committee.

It also reflects the spirit of Politburo resolutions, including Resolution No. 15-NQ/TW dated May 5, 2022 on Hanoi's development orientation and Resolution No. 68-NQ/TW dated May 4, 2025 on private sector development.

Based on this foundation, the city's appraisal council conducted an appraisal of the Red River Landscape Boulevard investment proposal.

The council submitted its appraisal results to the Hanoi People's Council for consideration of the investment policy, including an initial independent sub-project involving construction of a public park in Phu Thuong Ward, covering about 20 hectares, to serve the groundbreaking ceremony scheduled for December 19, 2025.

Based on the appraisal results, the Standing Committee of the Hanoi People's Committee Party Organization reported and proposed that the Hanoi Party Standing Committee and the Hanoi Party Committee Executive Board approve the project's implementation policy.

According to the report, the project will extend along the Red River from Hong Ha Bridge to Me So Bridge, covering 19 communes and wards in Hanoi.

On the right bank, the project passes through 12 communes and wards: O Dien, Thuong Cat, Dong Ngac, Phu Thuong, Hong Ha, Vinh Tuy, Vinh Hung, Linh Nam, Hoang Mai, Thanh Tri, Nam Phu and Hong Van.

On the left bank, it passes through seven communes and wards: Me Linh, Thien Loc, Vinh Thanh, Dong Anh, Bo De, Long Bien and Bat Trang.

The project covers about 11,000 hectares, including an 80-kilometer boulevard, landscape parks and recreational areas spanning about 3,300 hectares and about 2,100 hectares for land clearance to support urban redevelopment.

The project will be divided into independent component projects to ensure feasibility and effective implementation.

Four core component projects are identified. Component Project 1 will be implemented on the left bank and includes the boulevard, landscape parks, recreational areas and land clearance for urban redevelopment.

Component Project 2 will be implemented on the right bank and includes the boulevard, landscape parks, recreational areas and land clearance.

This component includes the initial independent sub-project of a public park in Phu Thuong Ward for the groundbreaking ceremony.

Component Project 3 involves construction of an underground metro line along the right bank, about 45 kilometers long, to connect with the city's urban railway system and support long-term modern transport infrastructure.

Component Project 4 includes resettlement urban areas developed within the overall project area in the form of high-rise apartment complexes and may also use offset land funds for investor payment, including low-rise housing and high-rise apartments.

Total investment estimated at $32.5 billion, completion targeted for 2030

According to the report, the preliminary total investment for the Red River Scenic Boulevard Axis project is about VND855 trillion ($32.5 billion).

Selected investors must meet financial capacity requirements under regulations and complete investment policy procedures within six months.

The project targets completion in 2030. Offset land for project payment will come from urban redevelopment areas within the overall project scope and the resettlement urban areas.

Alongside the main project, the Standing Committee of the Party Organization of the Hanoi People's Committee proposed implementing an initial independent sub-project to build a public park in Phu Thuong Ward.

This sub-project will be located near Alley 148 An Duong Vuong on public land managed by the Phu Thuong Ward People's Committee, covering about two hectares with a preliminary investment of around VND670 billion ($25.5 million).

This investment item will serve the groundbreaking ceremony for the Red River Scenic Boulevard Axis project as directed by the Government.

Tuan emphasized that the Red River Scenic Boulevard Axis is a symbolic and iconic project of the capital, a major and urgent investment receiving close attention and direction from central leaders and the Government.

The project must break ground simultaneously with nationwide groundbreaking and inauguration projects on December 19, 2025, as directed by the Government, with Hanoi expected to serve as the main groundbreaking venue attended by central and government leaders.