Vietnam’s State-owned enterprises (SOEs) are being given a central role in driving large-scale national and local development projects under Resolution 79-NQ/TW, issued by the Politburo in early January 2026. This resolution aims to not only preserve and grow state capital but also position SOEs as key players in leading major infrastructure and urban development initiatives.

New Twist in Urban Spatial Planning

In recent years, Hanoi has embarked on a series of large-scale infrastructure projects, including the Red River Landscape Boulevard axis and the Olympic sports urban area. These projects are designed to boost economic growth, improve the business environment, and enhance the city’s functionality and appearance.

However, the rapid development has also led to significant land displacement, necessitating the creation of high-quality resettlement housing with advanced technological and social amenities to maintain public stability and support.

In response, the 18th Hanoi Party Committee issued Resolution 06-NQ/TU on January 25, 2026, approving a citywide plan for multi-purpose urban areas. This plan aligns with the nine growth axes outlined in the capital’s 100-year master plan.

Multi-Purpose Urban Zones

The new urban zones are designed to include a mix of resettlement, social, rental, and commercial units, all supported by integrated infrastructure, smart-city features, and access to essential services such as schools, hospitals, cultural venues, and sports facilities.

The focus is on ensuring smooth transportation, steady employment, higher living standards, and cost control to keep housing affordable for residents.

SOEs Steering Flagship Developments

The Hanoi Housing Development and Investment Corporation (HANDICO), operating under the Hanoi People’s Committee, is leading an investor group to push forward the massive Bac Thang Long Urban City multi-purpose project. The project covers nearly 700 hectares and is estimated to cost around 99 trillion VND (3.79 billion USD), targeting housing for approximately 200,000 people.

At a recent seminar, Dr. Nguyen Nhu Quynh, Director of the National Institute for Economics and Finance under the Ministry of Finance, described the Politburo resolution as a fundamental shift in the role of SOEs. Rather than spreading their resources across all sectors, SOEs are now being directed to focus on key strategic industries where they can drive growth and innovation.

Overall, Hanoi’s SOE-led projects are demonstrating that Resolution 79 is already being implemented effectively. In this framework, the state sector is working alongside private players and other stakeholders to achieve balanced and sustainable growth tailored to the capital’s future needs.

According to officials, the resolution is expected to have a significant impact on Vietnam’s economic development, particularly in urban areas where SOEs are being used to manage complex and large-scale projects.

The upcoming projects, including the Bac Thang Long Urban City, are anticipated to provide long-term benefits to the residents of Hanoi, including improved living conditions, better access to services, and increased economic opportunities.

Experts suggest that the success of these projects will depend on the effective coordination between SOEs, local governments, and private sector partners to ensure the projects meet their intended goals and deliver on their promises.