HCMC – The Government’s investment plan for a high-speed railway connecting the nation’s north and south will be presented to the National Assembly (NA) at its next sitting, Prime Minister Pham Minh Chinh said at a Government meeting today, July 11.
The investment plan has been prepared by the Ministry of Transport following several meetings with the PM, Deputy PM Tran Hong Ha, and other officials.
PM Chinh praised the ministry’s report, calling it comprehensive and convincing. He urged the Ministry of Transport to fine-tune the plan to ensure its feasibility.
The high-speed rail project aims to address high logistics costs that are eating into Vietnam’s competitiveness.
The project targets the construction of 1,541 kilometers of high-speed rail through 20 provinces and cities within 10 years, aiming for completion by 2035. The speed limit is set at 350 kilometers per hour.
PM Chinh highlighted the importance of strategic and innovative approaches. The future high-speed railway should complement existing North-South transport routes, including highways, expressways and sea and air transport.
The project will prioritize passenger transport, integrate rapid freight services, and serve national defense needs when required. Existing railways will be upgraded for freight transport.
The PM called for thorough research on investment costs, ensuring they are comparable to similar international projects and considering Vietnam’s geographical conditions. He stressed the need for diverse funding sources, including central and local government funds, loans, bonds, and private sector funding.
He also emphasized modern, smart management methods, digitalization, workforce training, and technology transfer to develop a sustainable railway industry.
Deputy Prime Minister Tran Hong Ha will continue to oversee the project, with the Ministry of Transport assigned to refine the proposal based on feedback from experts and in alignment with Conclusion No. 49 and Resolution No. 103.
On February 28, 2023, the Politburo of the Party Central Committee issued Conclusion No. 49-KL/TW, outlining rail transport development until 2030, with a vision to 2045. Following this, the NA passed Resolution No. 103/2023/QH15 on November 9, detailing the 2024 socio-economic development plan. This includes accelerating key national railway projects, aiming to approve the high-speed rail project within 2024.
