NA deputies scrutinise investment policy for North-South high-speed railway project
Legislators looked into the investment policy for the North-South high-speed railway project on November 20 afternoon, part of the ongoing second phase of the 15th National Assembly’s eighth session.
Hanoi (VNA) – Legislators looked into the investment policy for the North-South high-speed railway project on November 20 afternoon, part of the ongoing second phase of the 15th National Assembly’s eighth session.
According to the Government's proposal, the high-speed railway is set to meet transportation demands, and contribute to sustainably restructuring the transportation market share along the North-South corridor, creating a catalyst for socio-economic development and ensuring national defence and security.
The Government proposed constructing a new electrified double-track railway with a standard gauge of 1,435 mm, a design speed of 350 km/h, and a load capacity of 22.5 tonnes per axle. It will span 1,541km, crossing 20 provinces and cities.
Regarding the project timeline, the building and approval of the feasibility study report and front-end engineering design (FEED) are planned for 2025–2026; and land clearance, contractor selection, and project commencement in 2027, with the goal of completing the entire route by 2035.
The preliminary total investment for the project is estimated at 1.7 quadrillion VND (around 67.34 billion USD). To ensure its progress and success, 19 special policies have been proposed.
In its verification report, the NA's Committee for Economic Affairs said, debt repayment and outstanding public debt have tended to increase in recent years, adding by 2025, the Government’s direct debt repayment obligations are projected to account for approximately 24% of the state budget revenue, nearing the allowable ceiling of 25%.
The agency, therefore, recommended that the government conduct a detailed assessment of the project's impact on the state budget deficit, public debt, and the medium- and long-term debt repayment capacity of the state budget. It also emphasised strict adherence to public debt safety thresholds to ensure national financial security and avoid placing repayment pressures on future periods.
Also in the afternoon session, NA deputies opined on adjustments to the investment policy for the Long Thanh International Airport project, along with the draft law amending and supplementing a number of articles of the Law on the Supervisory Activities of the National Assembly and People's Councils.
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A seminar to discuss opportunities and challenges for Vietnamese businesses in joining the North-South high-speed railway project was held in Hanoi on November 19, attracting the participation of representatives from the Ministry of Transport and businesses.
As the National Assembly is deliberating the landmark North-South high-speed railway project, domestic enterprises are stepping forward with bold commitments to contribute to the 67.34-billion USD project.
Constructing a high-speed railway from the North to the South will create momentum for economic growth, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
Known as the “four pillars for Vietnam’s ascend”, the Pobiburo's Resolutions 57, 59, 66, and 68 focus on cultivating a robust national entrepreneurial spirit, unlocking resources for innovation across society, and accelerating the development of digital economy, knowledge-based economy, green economy, and circular economy, propelling Vietnam forward rapidly and firmly on the path of modernisation and international integration.
Minister of Finance Nguyen Van Thang cleared up deputies' concern regarding how to spur socio-economic growth, renew traditional growth motives and establish new momentum for development.
Vietnam proposed several priorities: narrowing the digital divide, strengthening women’s leadership in the digital economy and AI governance, and mobilising sustainable financing for gender equality initiatives in line with each country’s national priorities and context. Vietnam also advocated for genuine women’s participation and leadership across all areas of public life.
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
Highlighting the transformative potential of the draft law in revitalising Vietnam’s railway industry, Hoang Van Cuong, a deputy of Hanoi, expressed his support for Article 39, which empowers the Prime Minister to issue a list of railway-related goods and services to be assigned or ordered from domestic enterprises for production.
According to the Ministry of Public Security, Hoan, formerly Deputy Minister of Labour, Invalids and Social Affairs, is under investigation for allegedly taking bribes in connection with a case involving the Hoang Long Construction and Manpower Supply JSC and related units.
Chairing a national conference on the organisation of the examination on June 18, the PM highlighted the historical significance of the examination, as the restructuring of provincial-level administrative units is underway and the two-tier local administration model is set to officially begin operations on July 1.
Right on the same day, the ministry issued its highest-level travel warning, urging Vietnamese citizens not to travel to Israel or Iran, and advised those already in these countries to swiftly consider evacuation or relocation plans.
From the struggles against colonialists and imperialists to the period of Doi moi (renewal) and international integration, the Vietnamese revolutionary press has always played a pioneering role on the ideological and cultural front, he said.
The Party leader's working session with the standing boards of the Party Committees of HCM City, Ba Ria – Vung Tau and Binh Duong, the VNA General Director's remarks on the occasion of the 19th OANA General Assembly, the launch of new NIC - Google initiatives aimed at bolstering AI entrepreneurship and digital literacy in Vietnam are among news highlights June 18.
Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
The Vietnamese representative also emphasised the shared responsibility of relevant parties to build trust, enhance cooperation, and jointly manage the risks of conflict, thus safeguarding long-term peace and stability in the East Sea.
The National Assembly on June 18 passed the law amending and supplementing a number of articles of the Law on Product and Goods Quality, with 408 out of 420 participating deputies voting in favour, accounting for 85.36% of the total.
The Party leader asked the new HCM City to embrace a multi-centre and integrated urban ecosystem where each development pole functions as a link complementary to and intelligently connected with each other in a harmonious whole.
The resolutions issued by the PM as well as ministries and ministry-level agencies reassign responsibility for 346 administrative procedures - 18 from district to provincial levels, 278 to commune level, and 50 eliminated.
Legislators are due to pass several amended laws, including the Law amending and supplementing several articles of the Law on Economical and Efficient Use of Energy, and the Law amending and supplementing several articles of the Law on Product and Goods Quality.
Vietnamese localities' readiness to implement the two-tier local administration model, the evacuation of 18 Vietnamese citizens from Iran, Petrovietnam's 11th ranking in the 2025 Fortune Southeast Asia 500 are among news highlights on June 17 evening.
