Vietnam may reconsider multi-billion-dollar express rail project
Vietnam’s proposed national high-speed railway project, shelved a few years ago due to hefty cost estimates, may be implemented over the next ten years to bolster its ailing rail network.
The government has tasked the Ministry of Planning and Investment to re-evaluate the proposal and report to the Politburo for instruction, Minister of Transport Nguyen Van The said Thursday.
The minister, at a National Assembly Q&A session, said the project may likely cost $58.71 billion in planned investment, with commercial operations expected to commence after 2030. The figure is equivalent to about 16% of Vietnam's GDP in 2021.
“When investment policies are made available, we will determine an appropriate schedule, with work to start three to four years later," he said.
A Shinkansen high-speed train in Tokyo, Japan. Photo courtesy of Vietnam News Agency.
Vietnam seeks a modern bullet train system to support its century-old rail network first built by the French in the 19th century.
According to the previous plan drawn up by the Ministry of Transport, the north-south high-speed railway would involve a totally new system, designed for a 350 kph speed, and operating speed of 320 kph, for passengers only. The first two sections of the system would be Hanoi-Vinh in the north and north-central region, and HCMC-Nha Trang in the south and south-central region.
The Ministry of Planning and Investment previously proposed the Ministry of Transport study possibilities in upgrading the operational railway to carry both passengers and freight with a speed of 160-200 kph.
- Read More
Vietnam government's investment arm SCIC receives $326 mln in dividends, profit distributions in 2024
The State Capital Investment Corporation (SCIC), Vietnam’s government investment arm, received VND8.5 trillion ($325.5 million) in dividends and profit distributions from 43 companies within its portfolio in 2024, according to its latest report.
Companies - Fri, July 18, 2025 | 8:26 am GMT+7
HCMC, Astana International Financial Center promote cooperation to develop Vietnam’s international financial center
Vietnam and Kazakhstan are focusing on strengthening cooperation in the financial sector, particularly between Ho Chi Minh City and the Astana International Financial Center (AIFC), located in Kazakhstan's capital.
Finance - Thu, July 17, 2025 | 11:52 pm GMT+7
FTSE Russell praises Vietnam for strong reform efforts
Representatives of FTSE Russell, a member of the London Stock Exchange Group, on Thursday said they highly evaluate Vietnam's strong reform efforts and commit to continue accompanying the country in the process of market modernization.
Finance - Thu, July 17, 2025 | 11:40 pm GMT+7
Developer of Southeast Asia’s largest exhibition center has new CEO
Tran Mai Hoa, chairwoman of Vincom Retail - the retail arm of Vietnamese private conglomerate Vingroup, has been appointed as new CEO of Vietnam Exhibition Fair Center JSC (VEFAC).
Companies - Thu, July 17, 2025 | 9:35 pm GMT+7
Vietnam’s offshore oil field produces first commercial oil ahead of schedule
The Kinh Ngu Trang-Kinh Ngu Trang Nam (White Whale-White Whale South or KNT-KTN) oil field, located in Block 09-2/09 off Vietnam's southern coast, welcomed its first oil flow on Monday, one day ahead of schedule.
Economy - Thu, July 17, 2025 | 4:03 pm GMT+7
Leading developer Becamex vows to develop eco-industrial parks in Vietnam
Becamex IDC Corp, a leading urban and industrial park developer based in Ho Chi Minh City, is committed to integrating international sustainability standards into the practical operations of its industrial parks in Vietnam, said CEO Nguyen Hoan Vu.
Industrial real estate - Thu, July 17, 2025 | 3:49 pm GMT+7
Northern Vietnam province to address traffic problem for Foxconn’s plant
Authorities in Vietnam’s northern province of Bac Ninh are working to resolve traffic congestion around the Quang Chau Industrial Park in response to concerns raised by Foxconn, a Taiwanese electronics giant and key supplier to Apple.
Companies - Thu, July 17, 2025 | 3:33 pm GMT+7
China firm plans wind power blade manufacturing project in central Vietnam
China's Zhuzhou Times New Material Technology Co., Ltd is proposing a wind power blade manufacturing project in the south-central coastal province of Khanh Hoa.
Energy - Thu, July 17, 2025 | 3:20 pm GMT+7
Investor awareness key to Vietnam’s stock market status upgrade: regulator
The Investor introduces the speech by Vu Thi Chan Phuong, chairwoman of the State Securities Commission (SSC), at the seminar "Raising investor awareness towards stock market status upgrade" in Hanoi on Thursday.
Finance - Thu, July 17, 2025 | 11:58 am GMT+7
S Korean firm apologizes for employee's assault in Hanoi
South Korea's Segyung Hi-Tech, with a subsidiary in the northern Vietnam province of Bac Ninh, on Wednesday issued a formal apology for its employee making an assault on two Vietnamese women in Hanoi.
Companies - Thu, July 17, 2025 | 10:23 am GMT+7
Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2
Vietnam’s largest steelmaker, Hoa Phat Group, posted after-tax profit of VND4.3 trillion ($164.4 million) in Q2/2025, up nearly 30% compared to both Q2/2024 and Q1/2025.
Companies - Thu, July 17, 2025 | 9:43 am GMT+7
Vietnam's fund management industry has chance to make breakthrough development: exec
Tax incentive policies will help people have confidence in investment funds and create a habit of long-term and disciplined investment, writes Nguyen Hang Nga, general director of Vietcombank Fund Management Company Limited (VCBF), a joint venture between state-controlled Vietcombank and Franklin Templeton Investments (FTI).
Consulting - Thu, July 17, 2025 | 8:52 am GMT+7
The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place
The Investor and its Vietnamese-language sister Nhadautu.vn will hold a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on Thursday, July 17.
Finance - Thu, July 17, 2025 | 7:30 am GMT+7
Chinese firms seek to develop smart urban areas in Vietnam
Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.
Real Estate - Wed, July 16, 2025 | 10:25 pm GMT+7
Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang
Local investor Sai Gon-Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP) which covers 24.75 ha in the central city of Danang.
Companies - Wed, July 16, 2025 | 8:34 pm GMT+7
US starts anti-circumvention probe into aluminum containers imported from Vietnam
The U.S. Department of Commerce (DOC) has initiated anti-circumvention investigations into disposable aluminum containers, pans, trays, and lids imported from Vietnam and Thailand, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.
Companies - Wed, July 16, 2025 | 8:27 pm GMT+7
