The 1,541-km project, running between Hanoi and Ho Chi Minh City, is estimated to cost VND1,700 trillion (US$67 billion) with construction scheduled between 2027 and 2035.

China-backed high-speed railway connecting Jakarta and Bandung called "Whoosh" is parked at Halim station in Jakarta, Indonesia, Oct. 2, 2023.

It spans three medium-term budget cycles, requiring approximately VND538 billion ($21.22 million) for preparatory work (2021–2025), VND841.7 trillion for 2026–2030, and VND871.3 trillion for 2031–2035.

Presenting a report summarizing opinions for the draft resolution as well as adjustments to it, Chairman of the NA's Economic Committee Le Hong Thanh emphasized the importance of the project for implementing Party policies, modernizing transport infrastructure, and driving socio-economic development.

After 18 years of preparation and referencing global high-speed rail models, the project is considered feasible for Vietnam's current context.

According to the NA Standing Committee, recognizing significant direct and indirect economic benefits, revenues in the first four years of operation will only cover operational and maintenance costs, necessitating state support for infrastructure maintenance.

Budget allocation will align with project progress, exempting the project from financial feasibility assessments mandated by the 2019 Public Investment Law.

PM requests prioritized investment into railways linking with China

Vietnamese Prime Minister Pham Minh Chinh called for enhanced collaboration to boost railway connection with China as he met Party General Secretary and President Xi Jinping on the sidelines of the expanded BRICS Summit in Russia on Wednesday (local time).

North-south high-speed railway minimizes foreign labor dependence

With the development of the high-speed North-South railway project, the focus has turned to training a local workforce to minimize dependence on foreign expertise in express rail operations, an official said.

Railway sector to transform infrastructure, business model

The plan on the management, use, and exploitation of the State- managed national railway infrastructure, recently approved by the Prime Minister, is a prerequisite for improving infrastructure by tapping into resources for promoting the Vietnam Railway Corporation (VNR)’s performance.

Vietnam pushes for shorter route, higher investment in north-south high-speed railway

The Ministry of Transport has proposed reducing the north-south high-speed railway's length by 4 km while increasing the total investment, citing rising land clearance costs compared to the 2019 proposal.

PM demands special mechanisms for Noth - South high-speed railway project

Prime Minister Pham Minh Chinh on October 5 order specific and special mechanisms be devised for the North - South high-speed railway project so that procedures are streamlined and construction duration shortened.