Vietnam approves $67bn high-speed 1,541km North-South rail megaproject
Government says 1,541km North-South line will further support economic growth
Vietnam will start building a $67-billion high-speed rail network to connect its northern and southern regions in 2027, as the government plans major infrastructure projects to support its economic growth ambitions.
The National Assembly on Saturday approved the government’s proposal to build the 1,541-kilometre express railway, which will cross 20 cities and provinces with a designed speed of about 350 kilometres per hour. The project is expected to be completed by 2035, the government said in a statement.
It said the project would strengthen regional connectivity and increase the competitiveness of the economy, while also boosting national defence and security.
Vietnam has set a GDP growth target of between 6.5% and 7% for 2025 as it continues to power ahead as one of Southeast Asia’s fastest-growing economies.
The railway project is projected to increase gross domestic roduct by about 1 percentage points a year, Tien Phong newspaper reported in September. It is also expected to generate revenue of about $22 billion.
The North-South high-speed railway was first presented to the National Assembly in 2010, but it failed to secure enough votes to win approval due to a smaller economy and high public debt at the time.
Vietnam is also preparing to build a rail link with Yunnan province in China at a cost estimated at $7.2 billion, state media reported in October.
The 427km railway would run from the border province of Lao Cai through Hanoi and the port city of Haiphong to Ha Long City.
Construction is expected to begin in 2030 for the line, which state railway authorities forecast would carry 8.3 million passengers and 17.5 million tonnes of cargo a year by 2050.
Source: https://www.bangkokpost.com/world/2911762/vietnam-approves-67bn-high-speed-rail-megaproject
