Today, a new financial agreement was signed in Vietnam to enhance Hanoi’s sustainable urban transport system. The agreement focuses on a project that will support the research and preparation of investments for extending Metro Line 3 in Hanoi. The project will contribute to Hanoi’s sustainable development and poverty reduction, improve air quality and travel safety and ease access for the local population to health, education and economic activities.
European Commissioner for International Partnerships Jutta Urpilainen said: “Through this project, the EU is supporting plans to develop Hanoi’s transport system and extend Metro Line 3. It is an excellent example of the EU’s Global Gateway investment strategy. We are working together with partner countries, like our good partner Vietnam, to develop sustainable infrastructure that brings concrete benefits to the local people and stimulates local economy, while tackling climate change and pollution.”
The extension of Metro line 3 aims to tackle infrastructure, transport and environmental challenges in Hanoi caused by its rapid urbanisation. As a first step, the technical assistance project signed today will fund a feasibility study for extending Metro Line 3 from Hanoi Train Station to Hoang Mai. It will also update Hanoi’s urban transport masterplan and management capabilities.
This €10 million project is implemented in a Team Europe approach, supported by the European Union under its Asia Investment Facility, together with French government through its Development Agency AFD, and the Government of Vietnam.
The signing was hosted by Vietnam’s Deputy Minister of Planning and Investment and took place in a Team Europe format. The EU was represented by the Deputy Director General for International Partnerships at the European Commission, the EU Ambassador to Vietnam, the Ambassador of France, the Director of the French Development Agency (AFD), and other representatives of Vietnam.
This project complements other initiatives the EU develops under the framework of the Just Energy Transition Partnership with Vietnam, promoting a green and resilient transformation in Vietnam.
Background
Global Gateway is the EU’s positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.
The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. Together, we aim to mobilise up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.
EU-Vietnam partnership
