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Perspective of a resettlement area serving the Ring Road 4 project in the Hanoi Capital Region |
The government has recently sent a report to the National Assembly on the implementation progress of Resolution 56, which outlines the investment policy for the Ring Road 4 project in the Hanoi Capital Region. This report highlights several significant changes compared to the initially approved project.
To be more specific, while executing the project, Resolution 56/2022/QH15 by the National Assembly initially specified a total land reclamation area of around 1,341 hectares. However, in practice, this area has expanded by 56 hectares, resulting in a total land reclamation area of 1,397 hectares.
The National Assembly provisionally endorsed a total investment of approximately VND85.81 trillion for the project. However, the approval results for the individual components show that this amount is approximately VND84.32 trillion, lower than the preliminary total investment specified in Resolution 56 of the National Assembly.
Nonetheless, within this context, the component project related to compensation, support, and resettlement in Hung Yen Province is projected to rise by roughly VND1.5 trillion, and the component project for compensation, support, and resettlement in Bac Ninh Province is anticipated to increase by around VND2.87 trillion. The government has attributed these increases primarily to the utilization of land compensation rates based on market prices.
In accordance with public investment regulations, in this scenario, the Hanoi People's Committee must assume the lead role, compile the necessary documents, and follow the prescribed procedures. They must submit these documents to the competent authorities for review and decisions related to adjustments in the project's investment policy.
Furthermore, the government has highlighted challenges related to land clearance. Accordingly, 86.5 percent of the land that has been cleared is agricultural, while the remaining portion, which has yet to be cleared, is predominantly composed of residential land owned by households, land with religious significance, and properties owned by various agencies and organizations. The intricacies of land handover have caused complications, making it difficult to execute construction projects concurrently.
The project has a total length of nearly 113 kilometers, passing through the areas of Hanoi, Hung Yen, and Bac Ninh provinces. The preliminary total investment is VND85.81 trillion, divided into seven component projects. It is expected to be largely completed by 2026 and operational from 2027.
