A view of the thematic conference of the Hanoi Party Committee on December 13. (Photo: VNA)

The Hanoi Party Committee on December 13 approved in principle two major investment projects seen as new strategic growth drivers for the capital, namely an Olympic sports urban area in the city’s southern area and the Red River Landscape Boulevard.

Chairing a thematic conference of the municipal Party Committee, Politburo member and Secretary of the municipal Party Committee Nguyen Duy Ngoc said the two projects carry special significance for the development of the capital, the Red River Delta and the country, and aim to create a Red River miracle.

According to Ngoc, the projects are expected to help Hanoi achieve GRDP growth of 11% or higher from 2026, reshape the city’s urban landscape and position the capital as a creative, green, smart and globally connected metropolis.

He said that the National Assembly on December 12 passed Resolution No. 258/2025/QH15, allowing the piloting of special mechanisms and policies for major projects in the capital, providing an important legal and institutional foundation for accelerating implementation.

Under the approved orientation, the Olympic sports urban area will cover about 9,171ha across 11 southern communes of Hanoi, with a preliminary investment of over 925.65 trillion VND (over 35 billion USD) and a projected population of about 751,000.

Envisioned as a modern, integrated sports city, the complex is designed to enable Hanoi to host major continental and international sporting events such as the Asian Games and the Olympic Games. Construction of the main sports complex and stadium is targeted for completion in 2030, with the entire project due to be finished by 2035.

Meanwhile, the Red River Landscape Boulevard is planned along both banks of the Red River, from Hong Ha Bridge to Me So Bridge, passing through 16 wards and communes. The project includes nearly 80km of landscape boulevards on both banks, large-scale riverside parks, embankments and an underground metro line along the right bank, integrated with Hanoi’s urban rail network. The preliminary total investment is estimated at about 855 trillion VND (32.4 billion USD).

The city’s leaders said the boulevard project is expected to create a major breakthrough in infrastructure, urban development and the riverside economy, contributing to the goal of sustaining GRDP growth of at least 11% in the 2026-2030 period.

Both projects are scheduled to break ground on December 19, in line with Government direction, alongside other key projects nationwide, in a move aimed at building momentum ahead of the 14th National Party Congress and entering 2026 with an ambition for double-digit economic growth.