Vietnam has approved the construction of a high-speed rail line linking the capital Hanoi in the north with Ho Chi Minh City in the south, at an estimated cost of $67 billion.
The ambitious railway line will stretch 1,541 kilometers (957 miles) between the Vietnamese capital and the financial capital in the south. The new train is expected to reach a speed of up to 350 km/h (217 mph), reducing the journey from the current 30 hours to just five hours.
The decision was made by Vietnam’s National Assembly, the parliament.
Construction is expected to start in 2027 and Vietnam hopes the first trains will start running in 2035. But the country has been plagued by delays to previous infrastructure projects.
The train will travel through twenty provinces and cities, with 23 passenger stations and five freight stations along the way. It will transport people as well as goods and also serve defense purposes, state media said.
Deputy Transport Minister Nguyen Danh Huy said the project was a response to growing transportation needs, and that several studies had underlined the need for faster options on the north-south corridor, state media reported.
“This project is crucial for the restructuring of transportation stocks and serves as a cornerstone for Vietnam’s leap into a new era of growth,” he said.
State media said Vietnam will prioritize domestic financing for the project but may consider foreign loans if they are affordable and not restrictive.
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