The Hanoi People's Council has allocated a VND23.5 trillion (USD1 billion) funding from the city's budget for the development of the Ring Road No. 4 PPP project in Vietnam.

The investment includes VND19.5 trillion (USD841.6 million) for 2021 - 2025 and VND4 trillion VND (USD172.6 million) for 2026 - 2030. With a total estimated value of USD3.7 billion, the PPP project involves the development of a 112.8-kilometer-long road, which covers three northern provinces of Hanoi City, Hung Yen and Bac Ninh, with a connecting route of 9.7-kilometers long. The road stretches from Noi Bai – Lao Cai Expressway in Hanoi and ends on the Noi Bai – Ha Long Expressway in Bac Ninh province.

Ring Road No. 4 is a key national project and combines a public investment model with a Build, Operate and Transfer PPP contract. The project is divided into three sub-projects and is expected to be completed in 2027.