Volume 2 - Issue 3, May - June 2026

The Red River Scenic Boulevard Axis Project is one of the strategic orientations for urban spatial development in Hanoi in the new period. It is not merely a transport infrastructure project; it is also associated with the objective of restructuring the urban space on both sides of the Red River, forming an ecological, cultural and service-oriented scenic axis, expanding development space, improving quality of life and creating new economic momentum for Hanoi. According to information announced in May 2026, the project covers a land-use scale of approximately 11,418 hectares, includes 5 project groups with 18 component projects, and comprises two scenic boulevard routes along both banks of the Red River with a total length of more than 80 km. It is to be implemented across 16 communes and wards, with an expected implementation schedule from 2026 to 2038 and a preliminary total investment of approximately VND 736,963 billion. This article analyzes the main economic impacts of the project on Hanoi, including impacts on the development spatial structure, public-private investment, the real estate market, tourism and services, cultural industries, urban transport, employment, budget revenues and urban competitiveness. At the same time, the article identifies risks that need to be controlled, such as financial pressure, land speculation, resettlement, people's livelihoods, flood drainage assurance, protection of the Red River ecosystem and the requirement for transparency in the use of land funds for payment. On that basis, the article proposes several recommendations to ensure that the project becomes a driver of sustainable development, harmonizing economic growth, social welfare, environmental protection and the cultural identity of the Capital.

Tran Thi Nga,"A Study Assessing The Economic Development Impacts on Hanoi Of Implementing The Red River Scenic Boulevard Axis Project and Related Recommendations" International Journal of Advanced Multidisciplinary Research and Educational Development, V2(3): Page(555-559) May-June 2026. ISSN: 3107-6513. www.ijamred.com. Published by Scientific and Academic Research Publishing.