Trans-Vietnam high-speed railway needs special mechanisms: Prime Minister
The Ministry of Transport needs to propose special mechanisms for the implementation of the North-South high-speed railway project, says Prime Minister Pham Chinh Chinh, citing its dual role in driving socio-economic development and supporting defense and security efforts.
Special mechanisms on resource mobilization, land and site clearance policies, and access to construction materials aim to ensure procedures to be eased and the period of implementation shortened, PM Chinh elaborated during a Saturday meeting on the mega project with relevant ministries and agencies.
Prime Minister Pham Minh Chinh chairs a meeting on the North-South high-speed railway project, October 5, 2024. Photo courtesy of the government's news portal.
He stressed the need to introduce a mechanism to raise and diversify funding sources, which include public capital, loans, and bond issues.
The railway should be constructed as straight as possible, avoiding densely populated areas to minimize site clearance challenges and reduce costs, Chinh noted.
The government chief also underscored that the railway must be developed in line with national planning and harmonized with other kinds of transport. It should also have the capacity to connect economic corridors within Vietnam and with neighboring countries such as China, Laos, and Cambodia.
According to a report by the Ministry of Transport, the North-South high-speed railway project will be 1,541 km long and estimated to cost $67.34 billion. It will have a designed speed of 350 km/hour and primarily serve passenger transportation and carry light cargo when needed.
The electrified railway route will have 23 passenger and five cargo stations connected to key cargo hubs. It will begin at the Ngoc Hoi station in Hanoi and pass through 20 provinces and cities before ending at the Thu Thiem station in HCMC.
The ministry plans to present an investment plan for the project to the National Assembly, Vietnam’s parliament, next month and make a pre-feasibility study report in 2025-2026. It hopes to break ground on the railway in late 2027 and complete the whole project in 2035.
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