Progress on the High-Speed North-South Railway Project
In a recent development, the Vietnamese Government Office issued Document No. 391/TB-VPCP, conveying the conclusions of Prime Minister Pham Minh Chinh, who also chairs the National Steering Committee for important national projects in the transport sector. This document included an important update: The Ministry of Transport has submitted to the Government the Proposal for the North-South High-Speed Railway Project.
This indicates that the government may soon announce its investment plans for this ambitious railway project.
Mr. Luu Quang Thin, Deputy Director of the Planning and Investment Department (Ministry of Transport), shared with the Dan Viet newspaper that the ministry is focused on developing the North-South high-speed railway and accelerating investment in urban railway systems in Hanoi and Ho Chi Minh City to alleviate traffic congestion.
The North-South High-Speed Railway promises a modern travel experience. Illustration: AI ChatGPT
The goal is to connect this high-speed railway with the North-South route, forming a convenient passenger transport network nationwide. Additionally, there are plans to invest in new railway lines, including electrification, to link important seaports and airports, as well as to upgrade existing railway infrastructure.
Deputy Minister of Transport, Mr. Nguyen Danh Huy, shared with Sai Gon Giai Phong that most opinions from ministries, sectors, and experts agree on investing in the North-South high-speed railway with a design speed of 350 km/h. The proposed route is 1,541 km long, passing through 20 provinces and cities, mainly serving passenger transport, with freight transport considered when necessary.
If there is a demand for cargo transportation on this high-speed route, the operation of freight trains will be considered during different time slots than passenger trains. It is expected that freight trains will run during the night, four nights a week, with the remaining three nights allocated for infrastructure maintenance. The total investment cost for this scenario is estimated at nearly USD 70 billion.
Arranging Capital for the North-South High-Speed Railway
According to Deputy Minister Nguyen Danh Huy, the North-South high-speed railway is proposed to be invested in through the public investment form to ensure synchronization between infrastructure and means of transport, allowing for immediate operation in the initial phase and avoiding the risk of failing to attract enterprises to invest in vehicles. Specifically, the project will utilize capital sources from the state budget (including government bonds and favorable official development assistance loans) from central and local budgets.
However, National Assembly Deputy Pham Van Thinh (from Bac Giang province) suggested that the best and most optimal approach for this project would be to employ the public-private partnership (PPP) model.
“I believe that if we choose this solution, along with the support of the state budget and additional capital contributions from other countries and international financial organizations, we will undoubtedly find effective solutions regarding capital sources, investment methods, and exploitation, despite the massive investment required,” Mr. Thinh told Tien Phong newspaper.
Currently, Vietnam is actively seeking capital from international banks and other major countries for key projects like the North-South high-speed railway. For instance, during meetings with the Chairman of the Asian Infrastructure Investment Bank (AIIB) on July 16, 2024, and the World Bank Country Director in Vietnam on October 27, 2023, Prime Minister Pham Minh Chinh requested that these institutions provide consulting, financing, and support in the form of preferential loans for large-scale and highly effective infrastructure projects in Vietnam, including the construction of the North-South high-speed railway.
Additionally, in 2023-2024, Vietnam had consecutive bilateral engagements with Japanese leaders, resulting in positive outcomes related to the North-South high-speed railway project.
Notably, on June 10, 2024, Minister of Transport Nguyen Van Thang met and worked with Japanese Ambassador to Vietnam, Ito Naoki. Minister Nguyen Van Thang acknowledged Japan’s role as the top ODA provider for Vietnam’s transport infrastructure, with 52 ODA projects totaling USD 15 billion in investment. For the North-South high-speed railway project, the Vietnamese government has requested Japan’s support in terms of both capital and technology.
In response, Ambassador Ito Naoki affirmed the importance of Japan’s cooperation in developing transport infrastructure in Vietnam. He expressed Japan’s keen interest and willingness to share its expertise and support Vietnam in investing in transport infrastructure projects, including the North-South high-speed railway.
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