Vietnam has made significant strides in advancing its North-South high-speed railway project, with the National Assembly recently adopting a resolution for its development, estimated to cost around USD 67.34 billion. The project aims to enhance private sector involvement, with diverse funding sources including central and local government budgets, low-cost capital mobilization, and private investments for commercial areas at stations. Construction is expected to begin in late 2027, with completion targeted for 2035, and preparatory work is slated to be finalized by the end of 2026.
The 1,540-kilometer railway will connect Hanoi’s Ngoc Hoi Station to Ho Chi Minh City’s Thu Thiem Station, traversing 20 provinces and cities. Designed for speeds up to 350 km/h, the railway will primarily serve passenger transport while also accommodating national defense needs and potential goods transport. The project will utilize over 10,800 hectares of land and feature modern infrastructure comparable to developed countries.
National Assembly deputies have emphasized the importance of involving Vietnamese enterprises in the project, highlighting opportunities for local businesses to supply equipment and machinery. They advocate for a specific localization ratio in the investment portfolio to bolster Vietnam’s railway industry. Economic experts stress that the high-speed railway could transform connectivity and economic potential along its route, drawing on successful examples from developed nations.
(Source: Vietnam Investment Review)