Hanoi pledges to prepare more than VND23 trillion to build Ring Road No.4

SGGP
Hanoi City commits that the source of capital to implement the investment construction project of Ring Road No.4 in the Capital Region from the city budget is nearly VND19.48 trillion (US$841 million) for the 2021-2025 period and VND4.05 trillion ($174.77 million) in the 2026-2030 period.
Hanoi pledges to prepare more than VND23 trillion to build Ring Road No.4 ảnh 1 The map of the Ring Road No.4 in the Capital Region. (Photo: SGGP)
The 16th tenure Hanoi People's Council held the fifth session on May 20 - the thematic meeting to consider and decide on the policy of allocating and balancing capital for the investment project to build Ring Road No.4 in the Capital Region.

At the meeting, Mr. Nguyen Ngoc Tuan, Chairman of the Hanoi People's Council, said that the Hanoi People's Committee had coordinated with relevant ministries, agencies, and the People's Committees of Hung Yen and Bac Ninh provinces to complete the dossier and report to the Government to consider and submit to the National Assembly for the decision of the investment policy.

On May 12, the NA Standing Committee gave its opinion and approved the need to invest in the construction of Ring Road No.4 in the Capital Region. The NA Standing Committee agreed to submit to the NA for considering the investment policy decision of the project at the third session to be held on May 23. At the same time, the NA Standing Committee requested the Hanoi People's Committee to urgently supplement the project document with the contents of the total allocated capital, the disbursement progress, the divergence for each year, and commitment to arrange additional capital in case of having to increase the total investment of the project.

After the meeting, based on the conclusions of the NA Standing Committee, the Standing Committee of the Hanoi People's Council urgently coordinated closely with the Hanoi People's Committee to prepare documents for submission to the Hanoi People's Council. Accordingly, at this meeting, the Hanoi People's Council will consider and decide on the policy of allocating and balancing capital for the investment project to build Ring Road No.4 in the Capital Region. Specifically, the city commits that the source of capital to implement the investment construction project of Ring Road No.4 in the Capital Region from the city budget is nearly VND19.48 trillion for the 2021-2025 period and VND4.05 trillion in the 2026-2030 period. In case the total investment of a component project surges under the decision of the competent authority, leading to an increase in the local budget capital, the Hanoi People's Council will balance and allocate enough capital to implement and complete the project.

The investment project to build Ring Road No.4 in the Capital Region is an important national project, contributing to expanding the development space for the Capital, stretching the population density in the inner city, step by step restructuring the regional economy on both sides of the route; enhancing connectivity, creating motivation and inter-regional spillover effects, promoting socio-economic development of the cities and provinces in the Capital region, the Red River Delta, and key economic region in the North.

The Ring Road No.4 in the Capital Region project has a length of about 112.8 kilometers, passing through the territory of three provinces and cities, including Hanoi with about 58.2km, Hung Yen Province with 19.3km, and Bac Ninh Province with 25.6km, and the connecting route is about 9.7km.

By Nguyen Quoc – Translated by Bao Nghi

Other news