Saturday, October 5, 2024 Vietnam is embarking on an ambitious plan to build a North-South high-speed railway that will span 1,541 kilometers, running from Hanoi in the north to Ho Chi Minh City in the south. This massive infrastructure project, estimated to cost $67.34 billion, will be fully funded by the Vietnamese government without relying on foreign loans.
Deputy Minister of Transport Nguyen Dan Huy officially announced the plan, emphasizing that it will be one of the most transformative undertakings in the country’s history, set to significantly enhance transportation efficiency and economic development. The high-speed railway will feature trains capable of reaching speeds of 350 km/h, providing a much-needed improvement in travel time between Vietnam’s two largest cities. Currently, travel between Hanoi and Ho Chi Minh City by train can take up to 30 hours, but with the new high-speed system, this time could be reduced to just under six hours.
This development will not only benefit passengers but also have a profound impact on logistics and freight movement, fostering economic growth and regional connectivity across the country. Vietnam’s decision to finance the project entirely through medium-term public investments signals the government’s confidence in its economic stability and future growth potential. The funding will be spread out over several years, with approximately $5.
6 billion allocated annually up to 2035. This long-term financial commitment reflect.
