The Vietnamese National Assembly has officially approved the “Vietnam: First High-Speed Railway Project”, which will revolutionize the country’s infrastructure. The project, which will connect Hanoi and Ho Chi Minh City, is a part of Vietnam’s vision for modernization and economic development.
Project Details and Financing
The total cost of the project is set at $1.700 billion, including 67 trillion dong (about $538 billion) for construction and 21 trillion dong ($88 billion) for preparations. The amount will be financed by state investments outlined in Vietnam’s medium-term development plan. Authorities predict the railway will recover its investment costs within 33 years of its launch.
Timeline
The project is expected to start in 2027 and be completed in 2035. This 1.541-kilometer railway line promises to provide a modern transportation network with 23 passenger stations and 5 freight terminals.
High Speed and Regional Connections
- Passenger trains: Will provide fast and efficient connections between cities, reaching a maximum speed of 350 km/h.
- Freight trains: Support logistics processes with a speed capacity of 160 km/h. These features aim to improve Vietnam's internal transportation as well as increase the economic potential of the region.
International Connection with China
One of the highlights of the project is the integration of the Vietnamese railway into China's high-speed railway network via its northern branches. This connection will enable Chinese trains to pass through Vietnam, expanding international trade and cooperation opportunities.
Economic and Social Contributions
The direct and indirect impacts of the project on the Vietnamese economy can be summarized as follows:
- Modernization of Transport Infrastructure: It will save time by speeding up intercity transportation.
- Improvement in the Logistics Sector: Increased efficiency in freight transportation will strengthen regional trade.
- Creating Employment: It will provide thousands of new jobs throughout the construction and operation processes.
- Tourism and Regional Development: High-speed trains will revitalize tourism by facilitating access to tourist destinations.
Statement from the Ministry of Transport of Vietnam
Deputy Minister of Transport Nguyen Dan Huy said that this project will make a strategic contribution to Vietnam's transport system. He said that the construction of maintenance depots for passenger and freight trains will increase the reliability of the system and ensure long-term operational success.
A Strategic Step: Investing in the Future
Vietnam’s high-speed railway project is not just an infrastructure investment, but also a strategic initiative that will boost the country’s global competitiveness. Connecting major cities like Hanoi and Ho Chi Minh City with high-speed connections will have profound economic and social impacts.
Scheduled to be completed by 2035, the Vietnam High-Speed Rail Project will usher in a new era in the country’s transportation infrastructure. It will connect Vietnam with Asia’s modern transportation networks while also serving as a catalyst for regional development and economic growth.
