Vietnam has invested VND66,011 billion ($2.76 billion) in the metro systems of Hanoi and Ho Chi Minh City in the past decade, but only Cat Linh-Ha Dong urban railway in the capital city has entered operation.
In a draft report on railway investments funded by state budget, the Ministry of Transport noted that many metro projects in Hanoi and HCMC are progressing slowly and need more capital.
Hanoi is set to build 10 routes totaling 410 kilometers with an investment of VND36,602 billion ($1.53 billion), while HCMC targets to build eight systems with a total length of 173 kilometers and investments of VND29,408 billion.
After over a decade, only the Cat Linh-Ha Dong urban railway in Hanoi has entered operation. Hanoi aims to complete and put into use Nhon-Cau Giay section of the Nhon-Hanoi Station metro line, also known as Metro 2, later this year and then the Cau Giay-Hanoi Station section in 2027.
The Cat Linh-Ha Dong urban railway officially began operation on January 13, after about two months of trials. On Monday, it served 31,000 passengers, a new daily record, of whom 70% are regular travelers using a monthly pass, said Vu Hong Truong, director of Metro Hanoi, operator of the facility.
After 10 months, it served 5.4 million commuters and earned a revenue of VND46 billion ($1.93 million), according to Truong.
HCMC is constructing the Ben Thanh-Suoi Tien line, also known as Metro 1, striving to complete it in the last quarter of 2023. The Ben Thanh-Tham Luong line, or Metro 2, is progressing site clearance.
The transport ministry also reported challenges impeding the national railway system. The system is underdeveloped and plays a minor role in the country, carrying only 1-2% of the total passengers and 1-3% of goods.