Selecting best investment path for North-South high speed rail project: PM

THE HANOI TIMES — The Vietnamese Government will select the most optimal investment model for the North–South high-speed railway to ensure transparency and feasibility, said Prime Minister Pham Minh Chinh.

Chinh said the government over the past year has refined policies in line with the National Assembly’s resolution to advance the North-South high-speed rail project, which has drawn strong attention from the Party and the State and is widely anticipated by the public.

In the next phase, the Ministries of Science and Technology and Construction have been tasked with reviewing technical regulations and standards to identify suitable technologies for the project. The selected option must meet technical and economic criteria, ensure national defense and security, facilitate technology transfer and support efficient operations.

“Clear standards and regulations are needed to select the most suitable and optimal investment model for the country, ensuring openness, feasibility and a balance of interests among stakeholders,” said Chinh at a government meeting on December 23.

The Ministry of Construction is tasked with working with relevant ministries to complete impact assessments and propose mechanisms for each investment option for submission to the government, while finalizing the selection of survey consultants and guiding localities on site clearance for completion by January 2026.

The North–South high-speed railway has a preliminary total investment of about VND1.7 quadrillion (US$67 billion).

The 1,541-kilometer line will start at Ngoc Hoi Station in Hanoi and end at Thu Thiem Station in Ho Chi Minh City, passing through 20 provinces and cities. The project is considered a strategic infrastructure investment expected to create new growth momentum for the economy.

According to the Ministry of Construction, 11 out of 15 localities have reviewed demand and identified resettlement areas. Vietnam Electricity (EVN) has reviewed and prepared plans to relocate power infrastructure, while 12 localities have reported their central budget funding needs for the project. The contract for the feasibility study report may be signed this month.

The Ministry of Science and Technology has been assigned to appraise and publish 37 standards for high-speed rail in line with international practices. The feasibility study will define technology and scale in detail as a basis for decision-making.

Earlier, several enterprises expressed interest in investing in the project, including Vinspeed under Vingroup, Thaco and Vietnam Railways. Hoa Phat has also started construction of a steel plant to supply rail steel products for the project.

Beyond the North-South high-speed railway, the prime minister assigned the Ministry of Construction to accelerate planning for two railway projects connecting Vietnam and China, namely Dong Dang-Hanoi and Mong Cai-Ha Long-Haiphong.

For urban railways in Hanoi and Ho Chi Minh City, he urged the two cities to select unified and interoperable technologies that meet modern standards. He also emphasized gradual localization, technology transfer and the development of supply chains involving domestic enterprises.

Regarding the Ninh Thuan 1 nuclear power project in the central province of Khanh Hoa, the government discussed measures to resolve outstanding issues by January 2026. Several institutional frameworks to implement the project have been completed in recent years. Vietnam and Russia are currently negotiating an intergovernmental agreement on cooperation in plant construction.

Vietnam has restarted the Ninh Thuan nuclear power project, with completion expected within five years.

Earlier this month, Russia’s Rosatom held a call with Prime Minister Pham Minh Chinh and pledged to cooperate with Vietnam in building the Ninh Thuan 1 nuclear power plant using the most advanced technology available.