On November 30, 2024, Vietnam's National Assembly approved a monumental high-speed railway project valued at US$67 billion. This ambitious initiative will construct a 1,541 km (958-mile) railway connecting Hanoi to Ho Chi Minh City, designed to achieve speeds of up to 350 km per hour. The project aims to reduce travel time from 30 hours to approximately five hours, significantly enhancing regional connectivity and boosting economic competitiveness [d6ceadb0].
The railway will feature 23 stations across 20 cities and provinces, which is expected to contribute an additional 0.97 percentage points to Vietnam's GDP annually, translating to approximately US$22 billion in revenue [d6ceadb0]. The construction is slated to commence in 2027, with an expected completion date in 2035. This development marks a significant step in Vietnam's efforts to modernize its transportation infrastructure and improve overall connectivity within the country [b649c436].
Originally proposed in 2010, the project faced delays due to economic constraints but has now gained the necessary approval to move forward. Dan Martin from Dezan Shira & Associates noted that the railway will significantly enhance Vietnam's role in global supply chains, positioning the country as a key player in regional logistics [d6ceadb0].
In conjunction with these infrastructure advancements, Viettel Group is also making strides in enhancing Vietnam's digital landscape, with plans to install new undersea fiber optic cables and expand its 5G network. These initiatives are expected to complement the high-speed rail project by improving communication and data services across the nation [1a4be229].