Vietnam Approves $67 Billion High-Speed Railway Project

Vietnam’s National Assembly has sanctioned a $67 billion high-speed railway project linking Hanoi in the north to Ho Chi Minh City in the south. The 1,541-kilometer line is designed to operate at speeds up to 350 km/h, significantly reducing the current 30-hour journey to about five hours. Construction is slated to commence in 2027, with the first trains anticipated by 2035. The railway will traverse 20 provinces and cities, featuring 23 passenger and five freight stations, thereby enhancing both passenger and cargo transport. Deputy Minister of Transport Nguyen Danh Huy emphasized that the project addresses growing transportation demands and is pivotal for Vietnam’s economic development. The government plans to prioritize domestic funding for the project but may consider foreign loans if they are affordable and non-restrictive.