Over-67-billion-USD high-speed railway project submitted to legislature
National Assembly deputies on November 13 listened to a report and a verification report on the investment policy of the North-South high-speed railway project worth around 1.7 quadrillion VND (67.34 billion USD), within the framework of the legislature’s ongoing 8th session in Hanoi.
Chairman of the NA’s Committee for Economic Affairs Vu Hong Thanh delivers a verification report on the investment policy of the North-South high-speed railway project. (Photo: VNA)
Hanoi (VNA) – National Assembly deputies on November 13 listened to a report and a verification report on the investment policy of the North-South high-speed railway project worth around 1.7 quadrillion VND (67.34 billion USD), within the framework of the legislature’s ongoing 8th session in Hanoi.
On behalf of the Prime Minister, Minister of Transport Nguyen Van Thang presented the proposal, saying that the goal of the investment is to build a high-speed railway to meet transport demand, contribute to sustainably restructuring the transport market share along the North-South corridor, and lay the foundation for socio-economic development while ensuring national defence and security.
Specifically, the Government recommends the construction of a new dual-track railway which has a gauge of 1,435 mm, is electrified, and designed for a speed of 350 km/h, and a load capacity of 22.5 tonnes per axle. The main line will be approximately 1,541 kilometres long, with 23 passenger and five freight stations.
Thang said that the principle for selecting stations is that they must align with the current conditions and development plans of localities, especially in areas with sufficiently large transport demand.
Regarding the project timeline, the minister said that the preparation and approval of the feasibility study report and FEED (Front End Engineering Design) are scheduled to be completed in 2025-2026, while land clearance, contractor selection through bidding, and project groundbreaking are planned for 2027, with the goal of completing the entire railway by 2035.
Preliminary calculations indicate that during the first four years of operation, the government will need to provide partial funding for infrastructure maintenance costs through the state economic budget, similar to the current national railway system. The estimated payback period for the investment is approximately 33.61 years, the minister added.
Delivering the verification report, Chairman of the NA’s Committee for Economic Affairs Vu Hong Thanh said that the committee basically agreed with the Government's proposal, as the project is in line with the railway network master planning scheme for the 2021-2030 period, with a vision until 2050.
During the feasibility 🍷study phase, the Government should direct relevant agencies to thoroughly review and select the optimal methods for connecting the high-speed railway line with the existing railway network, urban metro lines, other transport systems, and the regional and international railway networks,𒉰 he noted./.
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Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
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Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
