2:45 p.m. on November 30, 2024 - the time when the XV National Assembly delegates at the 8th session - vote to approve the investment policy of the North-South high-speed railway project will certainly be a historic moment not only for the railway industry, but also for the development of the country's transport infrastructure system.
The majority of delegates agreed with the necessity of investing in the North-South high-speed railway project; investment in the project plays an important role in realizing the Party's guidelines and orientations and the State's policies, creating a breakthrough in socio- economic development and modernizing transport infrastructure.
According to National Assembly Delegate Tran Hoang Ngan (Ho Chi Minh City Delegation), when the high-speed railway comes into operation, people's travel will be more convenient, attracting domestic and foreign tourists , investors, etc., thereby helping to exploit all the potentials and advantages of the localities that the railway passes through, especially the Central provinces.
Affirming that “our country has now satisfied both necessary and sufficient conditions to implement this project” - National Assembly delegate Hoang Van Cuong (Hanoi Delegation) stated that our country's public debt ratio is currently quite low, 37% - a good space to mobilize an additional 67 billion USD within 10 years.
At the same time, our country has a long "shape", the circulation of goods and the need to connect economic centers along the North - South economic corridor is very large, many areas have development potential but have not been exploited due to the bottleneck of high logistics costs.
According to National Assembly Delegate Mai Van Hai (Thanh Hoa Delegation), the implementation of a number of key national projects in recent times has demonstrated great political determination. The drastic innovation in thinking in directing the implementation of many recent key national projects has brought about clear results.
With lessons learned in recent times as well as based on the actual conditions of the country, the delegate emphasized that the determination to build a synchronous, modern, international-class North-South high-speed railway is very necessary and feasible in the current period.
The North-South high-speed railway project has a very large total investment capital, plays an important role in the long-term development and affects many areas of the country's development. Therefore, delegates suggested that the Government should evaluate very carefully with a multi-dimensional perspective to choose the most suitable option when building a feasibility study report.
Transport infrastructure has always been identified by the Party, State and people as the "blood vessels" of the economy, a bridge opening up new development space.
At the National Conference to disseminate and implement the Resolution of the 10th Central Conference, Session XIII, held on October 20, 2024, Prime Minister Pham Minh Chinh affirmed that the policy of investing in the North-South high-speed railway is an objective requirement and a strategic choice to develop the country's infrastructure.
The Prime Minister pointed out that in 2010, the country's economy was still facing many difficulties, with GDP per capita just over 1,000 USD and the economy's size over 100 billion USD, so investment in the North-South high-speed railway had to be put on hold. Up to now, Vietnam's GDP has increased 3-4 times and there is room to invest in the entire North-South high-speed railway line, in line with people's expectations.
“The current position and strength of the country allow us to implement the high-speed railway project on the North-South axis with the spirit of self-reliance and self-strengthening according to the motto of shortened procedures and shortened construction,” the Prime Minister emphasized.
At the meeting of the Steering Committee for key works and important national projects in the railway sector on March 29, 2025, Prime Minister Pham Minh Chinh pointed out that the railway system is the lifeline of transport, playing a key role in socio-economic development, connecting regions and promoting international integration, so determination must be high, efforts must be great, and the construction of the high-speed railway project on the North-South axis must be started.
"We must work together, we must launch a general offensive to win; we must do it very urgently. The previous projects that took more than ten years to complete the railway line could not develop. We require breakthrough development, determined to start the railway project on the North-South axis in December 2026" - Prime Minister Pham Minh Chinh said.
In particular, to implement the North-South high-speed railway project, at the 9th session, the 15th National Assembly passed a Resolution regulating the addition of investment forms for this important project.
Accordingly, the National Assembly agreed with the Government's proposal in Submission No. 573/TTr-CP dated June 23, 2025. Approving the addition of investment forms under the Investment Law in the form of public-private partnership and business investment under the Investment Law for the North-South high-speed railway project in addition to the form of public investment.
The National Assembly assigns the Government to organize the selection of investment forms and investors according to regulations. In case there are other mechanisms and policies beyond the authority of the Government, they shall be reported to the National Assembly for consideration and decision.
In the Government's submission to the National Assembly, the Government proposed that the National Assembly approve the addition of other investment forms (such as investment under public-private partnership - PPP, business investment...) for the North-South high-speed railway project, in addition to the form of public investment.
According to the Government's proposal, the North-South high-speed railway project was approved by the Politburo in principle for investment in the form of public investment and the National Assembly approved the investment policy and form of public investment in Resolution 172 dated November 30, 2024.
At this time, no investors are interested in or have proposed to invest in the project. However, after Resolution 68 on breakthrough in private economic development was passed, during the project implementation process, the Government received investment proposals from a number of investors. Investors proposed to invest in the form of private investment (direct investment).
The Government's report also clearly stated that the investment forms under the public-private partnership method and direct private investment have full political, legal and practical bases.
At the Politburo's meeting with the Government Party Committee Standing Committee on September 10, General Secretary To Lam stated that it is necessary to have a policy to mobilize private sector resources to participate in key infrastructure projects such as highways, high-speed railways, urban railways, energy infrastructure, defense and security industries; effectively deploy the operations of the International Financial Center, free trade zones and new economic models...
On the other hand, the General Secretary directed to continue focusing resources on developing synchronous, modern, smart, internationally connected infrastructure; effectively exploiting and expanding new development space, taking urban areas as the driving force for regional development.
According to Minister of Construction Tran Hong Minh, based on the policies and orientations of the Party, the National Assembly and the Government, on the basis of the expected medium-term public investment capital allocation, the Party Committee of the Ministry of Construction has identified the key tasks for the 2026 - 2030 period as: Developing a synchronous, modern and smart infrastructure system; focusing central resources on strategic infrastructure and key projects; researching the formation of an Infrastructure Development Fund; basically forming a national infrastructure framework.
Along with that, invest in the Eastern North-South expressway, some sections of the Western North-South expressway, and important East-West expressway.
Prioritize resources for developing gateway seaports combined with international transit; major airports; high-speed railway lines on the North-South axis, and international connecting railway lines.
Laodong.vn
Source: https://laodong.vn/emagazine/dot-pha-trong-hien-dai-hoa-ha-tang-giao-thong-tu-du-an-duong-sat-toc-do-cao-bac-nam-1600006.ldo
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