Vietnam wants to spend $67 billion on high-speed railway project

By Alimat Aliyeva

The Ministry of Transport of Vietnam has proposed a project for the construction of a high-speed railway connecting the capital, Hanoi, with the country's largest economic center, Ho Chi Minh City, Azernews reports.

The investment justification for the project, valued at 1.7 quadrillion dong (approximately 67.34 billion dollars), was presented to the National Assembly (unicameral parliament) by Transport Minister Nguyen Van Thang during the eighth session of the National Assembly's 15th convocation in Hanoi.

According to the minister, the project involves the creation of a two-track electrified railway designed for train speeds of up to 350 km/h.

The route will span 1,541 km, with 23 passenger stations and five freight stations. The project aims to meet the growing demand for rail transport, foster sustainable socio-economic development in the North-South corridor, and contribute to national defense and security, the minister noted.

Construction is set to begin in 2027, with the full completion and commissioning of the route expected by 2035. The estimated payback period for investments is approximately 33 years, the minister added.

According to Vietnam's general railway development plan, by 2050, the country will have 25 railway routes, totaling 6,354 km, integrated into regional and international railway networks.