According to the government’s proposal, the project - previously approved by the National Assembly - will span approximately 1,541 kilometers, passing through 15 provinces and centrally governed cities (prior to any administrative mergers).

The total estimated investment is around 1.713 quadrillion VND (approximately 67.34 billion USD), funded through the state budget and other lawful sources.

The railway will be developed primarily under the public investment model. However, as of late June, the National Assembly has approved the addition of public-private partnership (PPP) and business investment methods to the project. The government has been tasked with selecting appropriate investment forms and investors according to regulations.

Given the project’s massive scale and its use of complex technologies, Minister Minh noted that the government is currently proposing special policies related to land clearance efforts.

Specifically, the government proposes separating the compensation, support, resettlement, and relocation of power structures with voltage levels from 110kV and above into independent sub-projects. These would be funded by both central and local budgets.

Local governments and the Vietnam Electricity Group (EVN) will be responsible for planning, approving, and executing these sub-projects within their jurisdictions. These components will not require new investment policy proposals.

Central budget funds will be allocated directly to localities and EVN. In the event of delays in central fund disbursement, local governments may use their own budgets to proceed, with reimbursement from the central government once funding becomes available.

According to the Minister, this approach allows for greater flexibility and accelerates the project’s progress.

The second policy the government proposes is to allow the National Assembly Standing Committee to consider and approve any additional mechanisms or special policies between sessions to avoid delays, with full reporting to the next Assembly session.

In a separate report, Chairman of the Economic and Financial Committee Phan Van Mai affirmed that adding new mechanisms and policies is necessary.

He noted that the National Assembly has previously approved similar measures. For example, under Resolution No. 38 of the 14th Assembly, land clearance components for the Long Thanh International Airport project were also treated as separate sub-projects.

The Committee agrees with the government’s proposal to treat land clearance and the relocation of high-voltage power structures as independent sub-projects. However, it recommends clearly defining the term “independent project,” outlining the estimated investment, land area to be reclaimed, completion timeline, and ensuring consistency across the entire railway project.

The Committee also stressed the importance of avoiding resource waste or complications when project boundaries and routes have not yet been finalized.

Regarding the second policy proposal, the Committee pointed out that under Resolution No. 172, the National Assembly already authorized the Standing Committee to make adjustments or approve special mechanisms as needed.

In addition, Clause 14 of Resolution from the 9th session of the 15th Assembly already allows PPP investment in the high-speed rail project. The government was authorized to select investment forms and investors, and in case of extraordinary mechanisms beyond the government’s authority, to report back to the Assembly for consideration.

Therefore, the Committee concluded that the second proposal is unnecessary.

Tran Thuong