In a groundbreaking announcement, the Ministry of Transport revealed plans for a transformative high-speed railway project spanning the length of Vietnam’s North-South axis. Unveiled during the second meeting of the Steering Committee for the construction and implementation of the high-speed railway investment policy project, chaired by Deputy Prime Minister Tran Hong Ha, the proposal marks a significant milestone in the nation’s infrastructure development.
The proposed North-South high-speed railway, designed for speeds of up to 350 km/h, aims to revolutionize transportation by prioritizing both passenger and goods services. Under the plan, the existing railway network will be dedicated exclusively to freight transportation, while the high-speed line will cater to the rapidly growing demand for efficient passenger transit.
Central to the proposal is the projection of substantial economic growth, with estimates suggesting a potential contribution of approximately 1 percentage point to GDP growth annually over the period from 2025 to 2037. Collaborating closely with the General Statistics Office, the Ministry of Transport conducted a thorough assessment of the project’s economic impact, highlighting its potential to drive sustained development and prosperity.
However, the ambitious initiative is not without its challenges. Deputy Minister of Transport Nguyen Danh Huy emphasized the complex technical standards and extensive preparation required for large-scale railway projects. Furthermore, the domestic railway industry faces significant limitations, including a lack of capacity for vehicle and equipment production, as well as a shortage of expertise in high-speed rail technology.
Acknowledging these obstacles, the Ministry stressed the need for meticulous planning and close coordination between ministries, branches, and localities. While the economic benefits of the project are substantial, financial efficiency remains a concern, prompting calls for state budget leadership and strategic resource allocation to ensure its success.
Beyond its primary objective of passenger transportation, the high-speed railway project aims to bolster Vietnam’s railway freight market share, reduce logistics costs, and enhance connectivity with international railway networks. To achieve these goals, the proposal advocates for investment in the development of the railway industry, including the manufacturing of locomotives and carriages.
In response to the ambitious vision outlined by the Ministry of Transport, experts emphasized the importance of innovative policies and mechanisms to mobilize resources and facilitate breakthroughs in project implementation. With careful planning and robust support, the North-South high-speed railway project promises to be a transformative force in Vietnam’s transportation landscape, driving economic growth and prosperity for years to come.
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Source: Vietnam Insider