The Can Gio Bridge project, breaking ground in the early days of 2026, is expected to usher in a new era of development for Ho Chi Minh City’s "green lung". Illustrative photo: VNA
In Hanoi, SOEs are pouring capital into multi-purpose urban zones, a deliberate move to ease choking urban pressures while securing the capital’s expansion for decades to come.
New twist in urban spatial planning
In recent years, Hanoi has embarked on blockbuster projects and large-scale technical infrastructure, from the Red River Landscape Boulevard axis to the Olympic sports urban area, and other strategic transport projects. These contribute to economic growth, spruce up the business environment, and make the city look and work a whole lot better.
But the building boom also means ripping up land and displacing residents, sparking a pressing need for resettlement housing loaded with top-notch tech and social setups to keep lives stable and illicit a buy-in from the public.
In response, the 18th Hanoi Party Committee issued Resolution 06-NQ/TU dated January 25, 2026, approving a citywide scheme for multi-purpose urban areas. It lines up perfectly with nine growth axes under the capital’s master plan with a 100-year vision.
These zones are designed to dish out a mix of resettlement, social, rental and commercial units, all backed by synced-up infrastructure, embedded smart-city features and ready access to schools, hospitals, cultural venues and sports facilities. The focus is on smooth transport inside and out, steady jobs, higher living standards, and tight reins on costs to keep homes affordable.
SOEs steering flagship developments
The Hanoi Housing Development and Investment Corporation (HANDICO), operating under the Hanoi People’s Committee, is fronting an investor squad to push forward the massive Bac Thang Long Urban City multi-purpose project. Covering nearly 700 ha, it targets housing around 200,000 people with an estimated cost of about 99 trillion VND (3.79 billion USD), emerging as a flagship example of Hanoi’s push into fresh urban revamps.
At a recent seminar, Dr Nguyen Nhu Quynh, Director of the National Institute for Economics and Finance under the Ministry of Finance, called the Politburo resolution a fundamental shift in the SOEs’ role. Rather than spreading thin across every sector, they are now directed to key strategic industries where they blaze trails and fire up growth.
Overall, Hanoi’s SOE-led projects are living proof that Resolution 79 is hitting the ground running. In this setup, the State sector grabs the wheel alongside private players and others to steer balanced, sustainable growth that's custom-fit for the capital's next big chapter./.
