The investment fund will be financed from various sources, including Official Development Assistance (ODA) grant and issue of government bond and built-transfer (BT) or built-operation-transfer (BOT) contract.

It will be used to expand and upgrade roads and intersections along the critical inbound and outbound routes of the city.

Construction of the second, third and fourth ring roads will be finished to connect national highways No. 1, 6 and 32 together. Three national highways Highway 1A, Highway No.2 and Highway 3 as well as Hoang Quoc Viet and East Thang Long avenues will be upgraded and expanded.

The main axis of traffic going through the city, such as O Cho Dua-O Dong Mac-Nguyen Khoai, Cat Linh-Thai Ha, Van Cao-West Lake, Nui Truc-Tay Son, National Museumo-Phu Do- Yen Hoa, is going to be rebuilt.

Other suburban routes, such as Roads No. 23 and 80 on the Phuc Tho-Phu Xuyen route, No. 21 on the Lang Hoa Lac-Son Tay route, and the Mieu Mon-Huong Son route, are expected to be widened.

Four new highways connecting Hanoi to the surrounding provinces, including Thai Nguyen, Lang Son, Hai Phong and Lao Cai, will be constructed.

In addition, Hanoi plans to upgrade national highways No. 2 and 6, as well as some inbound routes like Phu Dong, Dong Hoi, Dong Ngac, and Xuan Dinh.

Bridges and flyovers on national highway No. 21 and Hoang Mai Street will be rebuilt, and new parking plots are being planned for construction in Tran Nhan Tong, Cau Giay and Tam Hiep-Thanh Tri areas.

For short-term solutions to easing traffic congestion during rush hours, Hanoi plans to upgrade traffic facilities at 60 congestion points, including installing new traffic lights, traffic signs, specifying lane lines, and constructing speed bumps.

The city will also improve the public bus system as well as adding more routes to encourage people to use public transportation.

Tuoi Tre - February 23, 2011