With a total estimated investment of approximately US$1.216 billion, the Hanoi–Lao Cai Expressway (Noi Bai–Lao Cai Expressway) is a major transport infrastructure project designed to connect Hanoi with Lao Cai and strengthen regional connectivity with Yunnan, China. The 244-kilometer expressway was developed to significantly reduce travel time between Hanoi and Lao Cai while supporting trade, logistics, economic development, and access to markets along the northern transport corridor.
Approximately US$1.096 billion of the project financing was provided by the Asian Development Bank (ADB), comprising a US$200 million concessional loan from the Asian Development Fund (ADF) and a US$896 million loan from ADB’s Ordinary Capital Resources (OCR). The remaining US$120 million was provided as counterpart funding, with the project owner financing this portion through government-guaranteed project bonds.
The project was implemented as a major national expressway investment under the direction of Vietnam’s Ministry of Transport, with the Vietnam Expressway Corporation (VEC) serving as the project owner. The project involved large-scale engineering and construction works, including the development of a controlled-access toll expressway designed to modern highway standards. Through its scale, strategic location, and international financing structure, the project represents a significant investment in Vietnam’s transport infrastructure and regional economic connectivity.