Ambitious railway development plan in Vietnam until 2030

Along with upgrading railway routes, Vietnam has ambitious plans to develop a number of new ones during 2021-2030 to strengthen regional economic development.

ambitious railway development plan in vietnam in 2021 2030

Vietnam will construct nine new railway lines in the next 10 years

According to the draft planning on railway development until 2030 with a vision to 2050 submitted by the Vietnam Railways Administration to the Ministry of Transport (MoT), the market share of railway would be increased to 0.3 per cent in cargo transportation and 1.08 per cent in passenger transportation by 2030.

To achieve this goal, the national railway network will be extended to 16 major routes with a total length of 4,750km. The number includes seven existing routes and nine new lines.

Among the nine new routes, top priority is given to the North-South high-speed railway project, with plans to build the first two routes: Hanoi-Vinh and Nha Trang-Ho Chi Minh City.

Dang Quyet Tien, head of the Corporate Finance Agency under the Ministry of Finance, said that the North-South high-speed railway project will have big socio-economic influence, promoting the development of sectors like mechanics and high technology.

Regarding capital sources for this project, Tien said that when this project is included in the public investment programme, there will be ways to attract official development assistance (ODA) funds, and government bond issuance, and others.

 

Vu Anh Minh, chairman of Vietnam Railways said, "If we divide investment in the high-speed railway project into stages, I think it’s better to invest in the Hanoi-Danang and Ho Chi Minh City-Nha Trang routes first, instead of the Hanoi-Vinh segment as proposed in order to optimally meet demand. In addition, the central region is Vietnam's centre for tourism, especially Nha Trang and Danang which are attracting touritsts from both the southern and northern provinces,” the chairman explained.

In addition to the proposal to develop the first two routes on the North-South high-speed railway, the draft planning also proposes eight new lines, four of which would connect to seaports. They include the Yen Vien-Pha Lai connecting with Cai Lan seaport, and the one connecting with Lach Huyen International Gateway Port.

In the next 10 years, the draft also proposes prioritising railway routes connecting regions, including Dong Ngoc Hoi-Lac Dao-Bac Hong, Thu Thiem-Long Thanh, and Ho Chi Minh City-Can Tho, and others.

Along the new developments, the draft proposes an investment of about VND47.3 trillion ($2.05 billion) for upgrading existing railway routes until 2030 in order to increase operation efficiency.

Source: VIR

Solving VN railways' construction deadlock

Solving VN railways' construction deadlock

Integrating national and inter-regional railways with an urban transport system is a direction that can be chosen by megacities like Hanoi.

 
 

Other News

.
Bac Lieu prioritises renewable energy
Bac Lieu prioritises renewable energy
BUSINESSicon  11/07/2021 

The Mekong Delta province of Bac Lieu has chosen renewable energy as one of its top priorities, aiming to restructure the economy towards green growth and sustainable development.

Vietnam - top destinations for ASEAN companies looking for growth opportunities
Vietnam - top destinations for ASEAN companies looking for growth opportunities
BUSINESSicon  11/07/2021 

The country continues to offer appealing business and investment opportunities given its strong fundamentals.

Vietnam FTA portal to be upgarded
Vietnam FTA portal to be upgarded
BUSINESSicon  11/07/2021 

The Vietnam Free Trade Agreement Portal (FTAP) with people and businesses at the center of its service is aimed at improving the quality and efficiency of Vietnam's FTAs implementation.

Online investment apps offering choice and clarity
Online investment apps offering choice and clarity
BUSINESSicon  11/07/2021 

The stupendous surge of retail investors across the globe has prompted digitally-led investment applications and online platforms to develop, as they look to automatically optimise their passive indexed portfolios.

E-commerce platforms to be connected with tax agencies from next year
E-commerce platforms to be connected with tax agencies from next year
BUSINESSicon  10/07/2021 

E-commerce platforms must be electronically connected with tax management agencies from the beginning of next year, not from next month, as the tax watchdog aims to better collect taxes from sellers operating on the platforms.

Hoa Phat to boost digital transformation through strategic collaboration with CMC Corporation
Hoa Phat to boost digital transformation through strategic collaboration with CMC Corporation
BUSINESSicon  12/07/2021 

Hoa Phat Group has chosen CMC Corporation as a strategic consulting partner to help accelerate its digital transformation journey in the next 5 years.

Technology comes to aid of HCM City small retailers amid COVID challenges
Technology comes to aid of HCM City small retailers amid COVID challenges
BUSINESSicon  10/07/2021 

Within a few hours of offering to sell vegetables online, Thanh Truc sold out her stocks and had to refuse orders.

Vaccine passport: key for tourism during pandemic
Vaccine passport: key for tourism during pandemic
FEATUREicon  11/07/2021 

A vaccine passport is a new concept mentioned by many countries to open borders.

Industrial development needs State’s long-term vision
Industrial development needs State’s long-term vision
FEATUREicon  10/07/2021 

To develop the processing and manufacturing industry, the State needs to have stronger policies that focus on domestic enterprises. To have strong policies, it needs strong resources.

Vietnam needs more private corporations
Vietnam needs more private corporations
FEATUREicon  10/07/2021 

After over 30 years of Doi Moi (reform), Vietnam has had large private groups operating in many industries with international stature. There are also Vietnamese USD billionaires, but only a handful.

Vietnam should not be slow in opening its door: economists
Vietnam should not be slow in opening its door: economists
FEATUREicon  10/07/2021 

Prime Minister Pham Minh Chinh has said that Vietnam should not adjust the development goals and agrees with the two GDP growth scenarios designed by the Ministry of Planning and Investment (MPI).

Lychees and the agricultural revolution in Vietnam
Lychees and the agricultural revolution in Vietnam
FEATUREicon  09/07/2021 

Farmers in the northern province of Hai Duong have earned revenue of VND1,600 billion in the lychee season this year, the highest ever. 

VIETNAM BUSINESS NEWS JULY 10
VIETNAM BUSINESS NEWS JULY 10
BUSINESSicon  10/07/2021 

Pork imports surge during first half of 2021

Vietnamese aviation market forecast to recover from mid-Q3
Vietnamese aviation market forecast to recover from mid-Q3
BUSINESSicon  09/07/2021 

The Vietnamese aviation market is predicted to begin recovering by the middle of the third quarter with this year’s total estimated capacity of over 70 million passengers.

Real estate companies in dire straits under pandemic
Real estate companies in dire straits under pandemic
BUSINESSicon  10/07/2021 

Real estate companies in Vietnam are currently facing grave difficulties, with most localities implementing strict social distancing measures due to the outbreak of the fourth wave of the Covid-19 pandemic. 

VIETNAM BUSINESS NEWS JULY 9
VIETNAM BUSINESS NEWS JULY 9
BUSINESSicon  09/07/2021 

Vietnamese, German firms sign contract for supply of container cranes

Vietnam to solve bottlenecks to develop its auto industry
Vietnam to solve bottlenecks to develop its auto industry
BUSINESSicon  09/07/2021 

Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).

Japanese banks take on strategic roles
Japanese banks take on strategic roles
BUSINESSicon  09/07/2021 

Given their financially sound cornerstone and professional know-how, Japanese megabanks are actively exploring sensible bolt-on opportunities of banks in Southeast Asia, including Vietnam, as a critical part of their international market expansion.

ADB helps boost Vietnam’s private sector development
ADB helps boost Vietnam’s private sector development
BUSINESSicon  09/07/2021 

The Asian Development Bank (ADB) has approved a 4.6 million USD technical assistance to help the Vietnamese Government to strengthen public-private partnership (PPP), private sector development, and state-owned enterprise (SOE) reform.

Shippers and ride-hailers pushed to the limit amid pandemic
Shippers and ride-hailers pushed to the limit amid pandemic
BUSINESSicon  09/07/2021 

While people are staying at home to curb the spread of the pandemic, last-mile delivery shippers work hard to provide essentials and food to consumers. 

 
 
 
Leave your comment on an article

OR QUICK LOGIN