The event will include cultural and art activities staged by Vietnamese and Korean artists.
It will open with a show of hundreds of lanterns in red, yellow and blue, including 45 big lanterns made by a group of Vietnamese and Korean artisans.
A number of Vietnamese music, dance and circus performances will also be featured.
The nightly performances will include pop stars and young singers such as Diep Lam Anh and Truong Quynh Anh.
The festival’s featured performances include a gala music event on Christmas Eve, which will include 100 singers, dancers and theatre artists in Vietnam and other Asian countries.
The artists will stage contemporary music and dance performances with sound and light effects.
The festival will also include a food and tourist fair with 200 stalls from foreign and domestic companies.
A photo exhibition will introduce colour works of famous landscapes and tourist destinations in the Republic of Korea, Japan, Singapore and Vietnam.
The Lantern Festival 2017 will run through the New Year.