The key to breakthrough economic development.

For a project of such enormous scale and massive investment, careful consideration and deliberation are essential. However, given the current context, this appears to be the opportune time for implementation.

Consultants preparing the pre-feasibility study report have made preliminary calculations to determine the total investment for the high-speed rail project to be approximately $67.34 billion.

Time is of the essence, leaving us no room for further delay in our research.

Over the past period, the Ministry of Transport has been very active, working with other ministries and agencies to study experiences and refer to models from 22 countries and territories, and organizing study tours to 6 countries that possess and master high-speed rail technology to finalize the construction plan for a high-speed railway line with a design speed of 350 km/h, operating passenger trains but with the capability to provide a reserve for freight transport when needed, and reporting to the competent authorities.

I believe that building a high-speed railway with a long-term vision is entirely reasonable. The current context of the country also shows that this option is feasible, from national financial capacity and investment mechanisms to referencing and learning from international experiences.

Recently, I, along with many other National Assembly delegates, met with constituents to inform them about the North-South high-speed railway project, which is expected to be presented to the National Assembly at the upcoming 8th session with a maximum speed of 350 km/h.

People are very excited and supportive because they will soon have another mode of transportation to shorten the distance between provinces and cities in a very short time.

I myself wholeheartedly agree with this proposal. When the project is presented to the National Assembly, I will speak in support of it, and I believe that with strong determination, we can absolutely implement it.

Regarding capital, the burden on the budget can be significantly reduced as we now have many strong investors, unlike in the past when we relied solely on the budget.

Furthermore, this project presents an opportunity to use public investment to attract private investment. With the projected investment for the entire project being a massive $67 billion, the state budget cannot cover the entire cost.

In addition to public investment, it is necessary to attract investment through the PPP (Public-Private Partnership) model. Lessons from around the world show that most countries, apart from aviation investment, encourage private sector participation in other transportation infrastructure projects.

Investing through the PPP model attracts more capital while also making road users more responsible when using public infrastructure. Each road user needs to share the burden with the government.

The implementation of the North-South high-speed railway line is an essential requirement in the process of industrialization and modernization of the country. Once operational, it will undoubtedly create momentum for the development of various industries, sectors, and economic regions, laying the groundwork for breakthrough socio-economic development nationwide.

Source: https://www.baogiaothong.vn/chia-khoa-dot-pha-phat-trien-kinh-te-192240930234248821.htm