The Ministry of Transport and associated project partners have been informed that the completion of the north-south high-speed railway will be expected by 2035.
At a meeting to discuss investment policy for the high-speed railway on July 11, Prime Minister Pham Minh Chinh instructed the Ministry of Transport (MoT) to clarify the political, legal, practical outlook for the project, emphasising the need for comprehensive research.
The 1,541km-long railway will serve twenty cities and provinces and addresses the national demand for improved transport and logistics.
PM Chinh stressed the need for innovative and strategic approaches to complete the railway by 2035. The project is designed to use the most efficient and shortest routes, operating at speeds of 350km per hour.
It will complement existing north-south transport routes, including National Highway No.1, Ho Chi Minh Highway, and the under-construction expressway, and focus on passenger transport, while also supporting fast freight and national defence needs.
The existing railway will also be upgraded for freight transport.
"The MoT needs to calculate the total investment and thoroughly evaluate the socioeconomic impact. These calculations will inform us of the best way to mobilise capital and by what means, such as central and local government funds, loans, bond issuance, and corporate funds," the PM said.
PM Chinh also highlighted the necessity of a modern, digitalised management plan, workforce training, technology transfer and the development of a railway industry ecosystem, in line with the directives of the Politburo.
Deputy Prime Minister Tran Hong Ha will continue to oversee the project, with the MoT refining the project details, incorporating feedback, and preparing for the subsequent submission for approval.
Meanwhile, the project has attracted the attention of a Chinese investor. Last October, China Communications Construction Co. Ltd. (CCCC) announced that it wished to invest in several major infrastructure projects in Vietnam, including the north-south high-speed railway. However, there has been no update since then.
CCCC has been operating in Vietnam since 1996. The company has implemented more than 20 infrastructure and energy projects here, including Hanoi– Haiphong Expressway and Cai Mep – Thi Vai Port, as well as Vinh Tan - Binh Thuan thermal power plant and wind power projects.
Nguyen Kim
(VIR)
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