‘Vietnam plans to complete the North-South high-speed railway in 10 years’

This information was shared by the Prime Minister at the National Strategic Dialogue session within the framework of the 55th World Economic Forum (WEF) Annual Conference in Davos, Switzerland, January 21. This is the 4th time WEF has held a strategic dialogue with Vietnam.

Updating businesses about this year’s plans, the Prime Minister said that Vietnam aims to increase GDP by at least 8% and double-digit economic growth in the following years. He reiterated his view of prioritizing growth promotion associated with macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

To achieve this goal, one of Vietnam’s strategic pillars is infrastructure development, according to the Prime Minister. In particular, Vietnam plans to complete the North-South high-speed railway in about 10 years. At the same time this year, the railway project connecting Vietnam with China, Central Asia and Europe may also be started.

The North-South high-speed railway project was approved by the National Assembly for investment in November 2024 with a total preliminary capital of about 1.7 million billion VND, equivalent to 67 billion USD. The route is 1,541 km long, starting at Ngoc Hoi station (Hanoi), ending at Thu Thiem station (HCMC), passing through 20 provinces and cities.

The entire route is newly invested with a double gauge of 1,435 mm, design speed of 350 km/h, load of 22.5 tons/axle; There are 23 passenger stations and 5 cargo stations; Transporting passengers, meeting dual-use requirements for national defense and security, and being able to transport goods when necessary. This project is expected to start construction in 2027.

Besides railway infrastructure, the Prime Minister said that Vietnam also has many large projects on airports, seaports, and highways that are being strongly promoted to reach their destination on time. This year, at least 3,000 km of highways can be completed.

Government leaders provided information on the progress of the above projects in the context that the country is focusing on drastically implementing three strategic breakthroughs including infrastructure, institutions and human resources. According to the Prime Minister, Vietnam will continue to strongly develop internal resources (human, natural), especially exploiting new development space (marine space, underground space, outer space).

“Vietnam is determined to develop rapidly but sustainably, with people at the center, not chasing simple economic growth, and has pioneered the early completion of the United Nations’ millennium development goals,” Prime Minister Nguyen Xuan Phuc said. the general said.

At the dialogue session, representatives of corporations expressed their impression with the determination and commitment of the Vietnamese Government to improve the investment environment. They are also interested in mechanisms to encourage investors to participate in the fields of infrastructure, liquefied gas, ensuring power sources, human resources, and removing export restrictions in some important markets of Vietnam.

Facing the interest of investors, Prime Minister Pham Minh Chinh announced the plan to restart the Ninh Thuan nuclear power project and its completion in 5 years. Nuclear power along with existing power sources, renewable energy (wind power, solar power), electricity import and many other synchronous solutions, “Vietnam commits to no shortage of electricity”.

In addition, to unleash growth potential to achieve strategic goals until 2030 and 2045, Vietnam focuses on renewing traditional growth drivers including investment, export, and consumption. Along with that, new growth drivers such as digital economy, green economy, sharing economy, science and technology, innovation and digital transformation are also promoted.

He asked partners and investors to continue to accompany and cooperate with Vietnam in priority areas, as well as contribute to improving institutions, infrastructure construction, financial incentives, research and transfer. technology transfer…

Meeting with Chinese Deputy Prime Minister Dinh Tiet Tuong on the same dayPrime Minister Pham Minh Chinh affirmed Vietnam’s consistent policy in valuing and giving top priority to relations with China.

He mentioned the two countries’ cooperation in capital, technology and human resource training to deploy standard gauge railways connecting Lao Cai – Hanoi – Hai Phong in 2025 and Lang Son – Hanoi and Mong Cai. – Ha Long – Hai Phong next time. This is one of the directions to promote relations between the two countries.

In addition, the Prime Minister proposed that the two sides promote cooperation in science and technology, innovation, focusing on areas where China has strengths such as big data, cloud computing, quantum, and microbiology. learn…

Meeting with Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi, the Prime Minister asked the GCC Secretariat to encourage businesses and investment funds in the Gulf to increase cooperation, share experiences and support Vietnam. develop an international financial center.

According to the plan of the Vietnamese Government, financial centers in Ho Chi Minh City and Da Nang will be established and operated in 2025. The construction of these centers aims to develop Vietnam into an important financial destination in the region. region, world.