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The project aims to enhance railway safety and transportation capacity, boosting international connectivity between Vietnam, China, and Europe.

Hanoi expects the AIIB to assist with planning, implementation methods, and financing strategies to rapidly deploy metro projects.

The total investment is approximately US$67.32 billion.

State-run Vietnam Railways (VNR) achieved record revenues in the first half of this year, averaging nearly US$1 million per day.

Vietnam expects to cooperate with China in personnel training, management, control, and design of railway projects.

By 2030, Hanoi will need approximately US$14.6 billion to build 96.8km of urban railway.

The city will replace the Kim Ma – Yen Nghia Bus Rapid Transit (BRT) line with an urban railway.

During the busiest days of the Tet (Lunar New Year) period, the company launched 322 north-south trains.

The No.2 urban railway line is expected to play a crucial role in the public transportation network, easing the ever-increasing severe traffic congestion in the capital's central area.

Having specific and feasible policies that take into account practical conditions will be the foundation for outstanding plans and solutions in urban redevelopment, specifically, urban railway systems.

It is imperative to encourage a paradigm shift towards adopting public transport, moving away from the pitfalls of unsustainable reliance on personal vehicles.

Early and effective investment in the urban railway system will increase the share of public passenger transport, reduce individual vehicle traffic, and positively impact socio-economic development.

Hanoi aims to address issues related to planning and investment to improve public transport systems, develop urban railways, and shape sustainable urban environments.

The draft amended Capital Law is aimed at facilitating Hanoi’s utilization of land resources for the development of urban railways.

Given the potential increase in property values when new roads and rail are built, the transit-oriented development model covered by the bill stands out as a highly promising and practical mechanism.

The draft law aims to redirect investment from being channeled mainly into housing and commercial center development projects to infrastructure projects such as urban railways.