Agreement reached on funding sources for the Ring Road 5 – Capital Region Construction Investment Project
On the afternoon of July 4, Comrade Pham Gia Tuc, Member of the Politburo and Permanent Deputy Prime Minister of the Government, chaired an online conference with several localities on funding sources for the Ring Road 5 – Capital Region Construction Investment Project. The conference was held to reach agreement on funding matters in order to ensure the timeline for submitting the required steps as prescribed, striving to start construction of the Project by the end of 2026.
Comrade Vuong Quoc Tuan, Member of the Party Central Executive Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Committee, and other delegates attending the Conference at the Thai Nguyen Province online venue
Attending the Conference at the Thai Nguyen Province online venue were Comrade Vuong Quoc Tuan, Member of the Party Central Executive Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Committee, together with leaders of relevant departments, sectors, and units.
The Ring Road 5 – Capital Region Construction Investment Project has a length of more than 300 km, passing through 7 localities: Hanoi, Ninh Binh, Hung Yen, Hai Phong, Bac Ninh, Thai Nguyen, and Phu Tho. The Project has an estimated total investment of about VND 298,000 billion, including the main expressway route and the parallel and service roads.
Delegates attending the Conference at the Thai Nguyen Province online venue
As an important Project that creates development space for the capital city of Hanoi and the provinces through which the road passes, all localities agree with the Government's investment policy and are ready to implement the Project in their areas. However, the total investment is relatively large; therefore, the ministries, sectors, and localities jointly discussed the form of investment and the balancing of funding sources to invest in the road...
Comrade Vuong Quoc Tuan, Member of the Party Central Executive Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Committee, speaks at the Thai Nguyen Province online venue
Speaking at the Conference, the Chairman of Thai Nguyen Provincial People's Committee strongly agreed with the Ministry of Construction's investment policy for the Ring Road 5 – Capital Region Construction Investment Project, and affirmed that the locality would actively cooperate and be determined to implement the Project. According to him, the section running through Thai Nguyen Province is about 46.23 km long; the province proposed that the Central Government balance funding sources together with local sources to implement the Project, ensuring feasibility and effectiveness.
Directing the Conference, Permanent Deputy Prime Minister Pham Gia Tuc emphasized: The Ring Road 5 – Capital Region Construction Investment Project is especially significant in expanding the development space of the capital city of Hanoi and the localities in the region, creating momentum for regional linkage, promoting socio-economic development, and enhancing the connectivity capacity of transport infrastructure. The Deputy Prime Minister requested that the Ministry of Construction take the lead, closely coordinate with the Ministry of Finance, relevant ministries and sectors, and the localities to fully incorporate the opinions raised at the Conference, and move swiftly to finalize the investment plan and the plan for mobilizing and allocating funding sources, ensuring feasibility, effectiveness, and compliance with the law. The Deputy Prime Minister requested that the units focus on completing the dossier and submit it to the competent authority for consideration and decision.