“A BREAKTHROUGH”
Deputy Minister of Planning and Investment Tran Quoc Phuong earlier called the new line a “breakthrough” in the country’s infrastructure that would increase the country’s GDP by 0.97 percentage points on average per year.
“It is the wish of the people and the determination of the political system to have a high-speed railway of international standards,” he said before the approval.
The National Assembly abandoned this same project in 2010, then estimated at $56 billion, fearing that it would be too costly.
But the project’s potential impact has changed dramatically, Martin said, adding that there was “growing momentum” behind high-speed rail projects in Southeast Asia, where Laos and Indonesia have both completed railway lines in recent years.
“For Vietnam… it’s about becoming an even stronger player in a region that is rapidly adopting high-speed rail,” he said.
The new railway line will stop at 23 stations in 20 different cities and provinces, strengthening connectivity between regions and providing residents with more travel options.
“The high-speed railway… will make it easier for many people to travel,” university student Pham Dang Quang said on Saturday, speaking aboard a train between Hanoi and the port city from Hai Phong.
He said he looked forward to the day when he could “take the train between Hanoi and Ho Chi Minh City in the morning and return home in the evening.”
The project is only expected to last eight years – starting in 2027 and expected to be completed in 2035 – even though the country has a history of overruns on major infrastructure projects.
Hanoi’s second metro line opened this year after nearly a decade of delays, while Ho Chi Minh City’s first metro line was originally scheduled to start operations in 2018. It has still not been open.
According to the 2023 Global Quality Infrastructure Index, Vietnam ranks 52nd out of 185 economies, well below several countries in the ASEAN region.
