70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Vietnam Politburo to review progress of US$59-billion North-South express railway
Ngoc Thuy - Quy Nguyen 12:09, 2020/08/11
Once completed, the high-speed railway would help reduce travel time from Hanoi to Ho Chi Minh City to around five hours and 20 minutes.

Prime Minister Nguyen Xuan Phuc has tasked the Ministry of Transport (MoT) with reporting the progress of the preparation process for the North-South express railway project with an estimated investment of VND1,350 trillion (US$58.7 billion) to the Politburo, the country’s supreme decision-making body.

 The express railway project in Vietnam is estimated to cost US$58.7 billion. 

The MoT in its pre-feasibility study report for the project proposed the upgrade of the existing railway tracks for freight and the construction of a new North-South railway route for passenger transportation from Hanoi to Ho Chi Minh City. The railway is expected to allow speed of 350 kilometers per hour.

With an investment of VND567.2 trillion (US$24.47 billion), the first phase of the project, scheduled to be implemented in 2020 – 2032, would be to upgrade the railway transportation infrastructure along the routes Hanoi – Vinh and Nha Trang – Ho Chi Minh City.

The second phase from 2032 – 2050 would focus on the construction of the remaining sections, costing an estimated VND783.1 trillion (US$33.79 billion).

Once completed, the high-speed railway would help reduce travel time from Hanoi to Ho Chi Minh City to around five hours and 20 minutes.

At present, the MoT’s pre-feasibility study report is under the review process of the State Appraisal Council for Investment Projects.

In 2018, the ministry revived the North-South express railway project after it was rejected by the National Assembly in 2010 due to its huge estimated investment, at that time estimated at US$56 billion, more than half of Vietnam’s GDP then. 

RELATED NEWS
TAG: Vietnam politburo north south express railway high speed pre-feasibility study Hanoi Ho Chi Minh City
Other news
15:07, 2024/03/13
Foreign capital set to dominate Vietnam’s M&A landscape
The positive trend of foreign capital in the M&A market this year follows the momentum of 2023, where the top five largest deals involved foreign investors.
19:51, 2024/03/04
Samsung to invest US$1 billion annually in Vietnam
Samsung's R&D center currently employs 2,400 engineers, with Vietnamese engineers playing a crucial role in researching AI features for the new Galaxy S24 phone series.
15:05, 2024/02/29
Thai bank acquires Vietnamese finance company
Thailand's fourth-largest bank has agreed to acquire all the equity of Home Credit Vietnam for US$865 million.
14:08, 2024/01/27
Vietnam appreciates support from int’l friends in nation-building: PM
The goal is to develop Vietnam's economy and become a regional powerhouse in Asia.
15:18, 2024/01/20
Vietnam, Hungary call for stronger economic ties
Leaders from both sides also reaffirmed their commitment to creating a "peace of mind" investment environment for investors.
12:53, 2024/01/13
Vietnam - Indonesia expand cooperation to include green growth, EV ecosystem
Both countries share a vision to become high-income countries by 2045.