The event entails firework displays of eight rival teams from Switzerland, Japan, China, the United Kingdom, Italy, Australia, Austria and Vietnam.
Their performances will light up the Han River every Saturday night from April 29 to June 24.
Entrance fees for each firework night range between VND300,000 and 500,000 (US$13-22) per person.
The festival also features street carnivals every Friday during its course, with enticing parades performed by participating countries.
On April 30, war veterans and visitors together will carry lit candles and torches at a ceremony held to commemorate those who laid down their lives for peace of the nation.
Meanwhile, an international food space is scheduled to run from April 20 and September 30.