Vietnam’s National Assembly has taken a significant step towards modernising its transport infrastructure by approving a US$67 billion high-speed railway project, connecting Hanoi and Ho Chi Minh City. This ambitious plan, expected to complete by 2035, aims to transform travel times and stimulate economic growth.
A Game-Changer for Connectivity
The 1,541-km railway will drastically reduce the travel time between Vietnam’s two major cities from over 30 hours to approximately five. As the nation seeks to bolster its attractiveness to foreign investors, the railway is seen as essential for improving overall connectivity throughout the country.
- Stops at 23 stations across 20 cities and provinces.
- Enhancements in efficiency for transport of goods.
- A projected annual GDP boost of 0.97 percentage points.
Boosting Economic Growth
According to Tran Quoc Phuong, Deputy Minister of Planning and Investment, this high-speed railway is not just an infrastructural project but a breakthrough aimed at uplifting Vietnam’s economy. International Business Advisor Dan Martin described it as a means to