Vietnam laying tracks to complete 1,541-km high-speed railway route in 2035

By Tri Duc
Fri, July 12, 2024 | 2:47 pm GMT+7

Vietnam will strive to complete the 1,514-kilometer North-South high-speed railway in 2035, Prime Minister Pham Minh Chinh said at a government meeting on Thursday.

The meeting was held to discuss drafting of the project document for the transnational railway link.

Chinh noted that the 2035 milestone was a full decade earlier than the 2045 target set by the Politburo, the Communist Party of Vietnam's premier decision-making body, in its March 2023 conclusion on the national railway transport development plan.

He asked the drafting team to consider having trains on the high-speed route run at 350 kilometers per hour, faster than the 320 kilometers per hour figure mentioned in the Politburo conclusion.

Prime Minister Pham Minh Chinh chairs a meeting on drafting a project document for the transnational high-speed railway link, Hanoi, July 11, 2024. Photo courtesy of the government's news portal.

Prime Minister Pham Minh Chinh chairs a meeting on drafting a project document for the transnational high-speed railway link, Hanoi, July 11, 2024. Photo courtesy of the government's news portal.

Drafting of the project, led by the Ministry of Transport, should be completed this year and submitted for approval, Chinh said.

He emphasized that the project was already facilitated by political determination (the Politburo’s document), legislative basis (National Assembly Resolution 103/2023/QH15), and actual demand (high demand for logistics services in the country).

He noted that for North-South transportation, the express railway project should focus on suitable passenger carrying capacity, express cargo delivery, and defense-security purposes. The country already has three transnational highways and a network of seaports and airports, he stressed.

Chinh asked the drafting team to check carefully the economic feasibility of the project including its payback period and socioeconomic impacts.

The express railway project should utilize smart, modern and digitalized management, ensuring suitable technology transfers and workforce development, he added.

According to a pre-feasibility report submitted in February 2019, the North-South High-speed Railway will pass through 20 provinces and cities: Hanoi, Ha Nam, Nam Dinh, and Ninh Binh (in the north); Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Danang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan and Binh Thuan (in the central region); and Dong Nai and Ho Chi Minh City (in the south). The route would start at the Ngoc Hoi Station in Hanoi and end at the Thu Thiem Station in HCMC.

In November 2023, the Ministry of Transport started collecting feedback from government agencies on three scenarios proposed for the project.

These presented the options of: having different designed speeds ranging from 200 to 350 km/h; making the route serve either passenger or cargo transportation exclusively or combining both; and considering cost estimates of $67.3-72 billion. Vietnam's 2023 GDP was about $430 billion, according to the General Statistics Office.

Comments (0)
  • Read More
$2.2 bln thermal power plant in central Vietnam fully comes online as second turbine begins commercial operations

$2.2 bln thermal power plant in central Vietnam fully comes online as second turbine begins commercial operations

Vung Ang II thermal power plant has brought its second turbine into commercial operation, completing one of Vietnam’s largest foreign-invested coal-fired power projects and reinforcing baseload supply in the central region.

Energy - Wed, April 8, 2026 | 8:26 am GMT+7

FTSE Russell confirms Vietnam's market status upgrade to secondary emerging from Sept 21

FTSE Russell confirms Vietnam's market status upgrade to secondary emerging from Sept 21

FTSE Russell on Tuesday confirmed the reclassification of Vietnam from frontier to secondary emerging market status, effective from September 21, 2026, as the country "meets all criteria" for the status.

Economy - Wed, April 8, 2026 | 8:07 am GMT+7

Becamex-Thaco consortium eyes $4.7 bln metro line project in southern Vietnam

Becamex-Thaco consortium eyes $4.7 bln metro line project in southern Vietnam

A consortium between two industrial giants, Becamex IDC and Thaco, has proposed investing more than VND124 trillion ($4.71 billion) to build two metro lines connecting Ho Chi Minh City's center with the adjacent Binh Duong ward, in a move that could reshape transport links across Vietnam’s southern economic hub.

Infrastructure - Tue, April 7, 2026 | 5:02 pm GMT+7

Sovico-HDBank consortium proposes $1.84 bln landmark tower in HCMC int’l financial center

Sovico-HDBank consortium proposes $1.84 bln landmark tower in HCMC int’l financial center

A consortium comprising Vietnam’s private conglomerate Sovico Group and HDBank (HoSE: HDB) has proposed investing $1.84 billion to develop a 99-story financial tower in Ho Chi Minh City, intensifying competition to shape the skyline of Vietnam’s planned International Financial Center.

Real Estate - Tue, April 7, 2026 | 4:48 pm GMT+7

Le Minh Hung elected as Vietnam's Prime Minister

Le Minh Hung elected as Vietnam's Prime Minister

The National Assembly, Vietnam's legislature, has elected Le Minh Hung, head of the Party Central Committee's Organization Commission, as Prime Minister for the 2026-2031 term.

Politics - Tue, April 7, 2026 | 3:23 pm GMT+7

USD/VND exchange rate remains under upward pressure amid inflation risks

USD/VND exchange rate remains under upward pressure amid inflation risks

The Vietnamese dong is facing persistent pressure against the U.S. dollar, as rising import-driven inflation risks complicate policymakers’ task of balancing price stability, exchange rate management and economic growth.

Banking - Tue, April 7, 2026 | 1:46 pm GMT+7

Heavyweight investors to shape southern Danang’s industrial future

Heavyweight investors to shape southern Danang’s industrial future

A wave of major corporations, including Thaco, Geleximco, and Bin Corporation, is accelerating investment in industrial zones in the southern part of Vietnam's central hub Danang city, helping to shape a green, modern, and high value-added industrial ecosystem.

Industries - Tue, April 7, 2026 | 11:42 am GMT+7

Vietnam's Party chief To Lam elected State President

Vietnam's Party chief To Lam elected State President

To Lam, Vietnam's Party General Secretary - the highest position in the country, has been elected as State President for the 2026-2031 term.

Politics - Tue, April 7, 2026 | 10:05 am GMT+7

After Petrovietnam divestment, Petrosetco reveals major ambitions, prepares to welcome strategic investors

After Petrovietnam divestment, Petrosetco reveals major ambitions, prepares to welcome strategic investors

Following the divestment by state-owned giant Petrovietnam, Petrosetco is preparing for its biggest moves in years: increasing charter capital to over VND2.6 trillion ($98.71 million), investing in real estate, and entering water infrastructure projects.

Companies - Tue, April 7, 2026 | 8:55 am GMT+7

Real estate major FLC kicks off $760 mln project in central Vietnam

Real estate major FLC kicks off $760 mln project in central Vietnam

Vietnam’s major real estate developer FLC Group on Saturday broke ground on a nearly VND20 trillion ($760 million) golf, entertainment, resort and urban area complex in Gia Lai province.

Real Estate - Mon, April 6, 2026 | 10:57 pm GMT+7

Gold trading major Bao Tin Minh Chau's founder subject to legal proceedings for alleged accounting violations

Gold trading major Bao Tin Minh Chau's founder subject to legal proceedings for alleged accounting violations

Legal proceedings have been launched against Vu Minh Chau, founder and majority owner of Hanoi-based gold trading firm Bao Tin Minh Chau, for alleged violations of accounting regulations during business operations, police said on Monday.

Society - Mon, April 6, 2026 | 5:57 pm GMT+7

Southern Vietnam-based Hyosung Vina Chemicals losses persist despite capital injection

Southern Vietnam-based Hyosung Vina Chemicals losses persist despite capital injection

Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, reported another year of heavy losses in 2025, underscoring persistent financial strain despite a significant capital injection from its parent group.

Companies - Mon, April 6, 2026 | 5:08 pm GMT+7

Petrolimex expects record revenue, profit drop in 2026 amid energy transition pressures

Petrolimex expects record revenue, profit drop in 2026 amid energy transition pressures

Petrolimex, Vietnam’s largest gasoline retailer, is targeting record revenue in 2026 even as profitability comes under pressure, highlighting the mounting challenges traditional fuel distributors face amid the energy transition and tightening policy environment.

Companies - Mon, April 6, 2026 | 4:24 pm GMT+7

Vietnam’s auto assembler TMT targets 3-fold profit surge, bets on electric pivot

Vietnam’s auto assembler TMT targets 3-fold profit surge, bets on electric pivot

Vietnamese auto assembler and distributor TMT Motors (HoSE: TMT) targets a sharp jump in profitability in 2026 as the company accelerates a strategic pivot toward electric vehicles.

Companies - Mon, April 6, 2026 | 4:10 pm GMT+7

MB targets 30-35% annual credit and deposit expansions, 15% profit growth for 2026

MB targets 30-35% annual credit and deposit expansions, 15% profit growth for 2026

Military Commercial Joint Stock Bank (MB) aims to grow its loan book and capital mobilization by 30-35% annually over 2026-2028 as Vietnam’s economy is expected to sustain strong momentum, said chairman Luu Trung Thai.

Banking - Mon, April 6, 2026 | 1:59 pm GMT+7

Tran Thanh Man re-elected as Vietnam National Assembly Chairman

Tran Thanh Man re-elected as Vietnam National Assembly Chairman

Tran Thanh Man has been re-elected as Chairman of the National Assembly, Vietnam's legislative body, for the 16th tenure after securing unanimous approval from lawmakers.

Politics - Mon, April 6, 2026 | 1:47 pm GMT+7