HCMC – The National Assembly, the legislature of Vietnam, today, November 30, voted in favor of a resolution on the implementation of a US$67-billion high-speed railway connecting the nation’s two biggest cities, Hanoi and HCMC.
The resolution got overwhelming support, with 443 out of 454 deputies voting for the big-ticket project which the Central Committee of the Communist Party of Vietnam approved at its 10th plenum from September 18 to 20.
The Party Central Committee threw its weight behind the development of the entire North-South express rail route which would allow trains at cruise at speeds of up to 350 kilometers per hour.
The 1,541-kilometer high-speed rail link between Hanoi’s Ngoc Hoi Station and HCMC’s Thu Thiem Station would have 23 passenger stations and five freight terminals.
It would serve both civilian and strategic transportation purposes, and pass through 20 provinces and cities.
It is expected to require around 10,830 hectares of land and the relocation of 120,836 residents along the route.
The estimated cost of the project is a staggering VND1.71 quadrillion (or US$67.5 billion at the current exchange rate), which would be allocated over three mid-term investment cycles, with VND538 billion allocated for preparatory work in 2021–2025 under the Ministry of Transport’s public investment plan. And VND841.7 trillion and VND871.3 trillion are estimated for the 2026–2030 and 2031–2035 periods, respectively.
Upon completion, the North-South high-speed railway will serve as a cornerstone of Vietnam’s transportation infrastructure. It is expected to bolster regional economic development, ease traffic congestion, and position Vietnam as a more competitive player in the global economy.
